Cantor Fitzgerald reissued their overweight rating on shares of Zai Lab (NASDAQ:ZLAB – Free Report) in a report issued on Monday, Benzinga reports.
Zai Lab Stock Performance
NASDAQ ZLAB opened at $17.22 on Monday. Zai Lab has a one year low of $13.48 and a one year high of $32.60. The company’s 50 day moving average price is $18.51 and its 200 day moving average price is $19.86. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -4.93 and a beta of 1.06.
Zai Lab (NASDAQ:ZLAB – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.38. The company had revenue of $87.15 million for the quarter, compared to analyst estimates of $77.07 million. Zai Lab had a negative net margin of 116.45% and a negative return on equity of 40.21%. During the same quarter last year, the firm posted ($0.51) earnings per share. Sell-side analysts forecast that Zai Lab will post -2.78 EPS for the current fiscal year.
Insider Buying and Selling
Hedge Funds Weigh In On Zai Lab
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Zai Lab by 3.2% during the third quarter. Alps Advisors Inc. now owns 72,842 shares of the company’s stock valued at $1,771,000 after purchasing an additional 2,263 shares in the last quarter. Lansdowne Partners UK LLP bought a new stake in Zai Lab in the third quarter worth about $854,000. Rock Springs Capital Management LP raised its position in Zai Lab by 1.2% in the third quarter. Rock Springs Capital Management LP now owns 1,237,023 shares of the company’s stock worth $30,072,000 after acquiring an additional 14,600 shares in the last quarter. WealthPlan Investment Management LLC raised its position in Zai Lab by 81,968.8% in the third quarter. WealthPlan Investment Management LLC now owns 39,393 shares of the company’s stock worth $958,000 after acquiring an additional 39,345 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Zai Lab in the fourth quarter worth about $116,000. Institutional investors and hedge funds own 41.65% of the company’s stock.
Zai Lab Company Profile
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.
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