Zai Lab (NASDAQ:ZLAB) Stock Price Up 9.3% – Here’s Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) shares traded up 9.3% during mid-day trading on Wednesday . The stock traded as high as $19.41 and last traded at $19.36. 320,064 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 735,128 shares. The stock had previously closed at $17.72.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZLAB. UBS Group assumed coverage on shares of Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. Cantor Fitzgerald decreased their target price on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Zacks Research cut shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.71.

Zai Lab Price Performance

The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -12.06 and a beta of 0.85. The business’s 50-day moving average price is $18.46 and its 200 day moving average price is $23.92.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The business had revenue of $127.60 million for the quarter, compared to analyst estimates of $122.67 million. As a group, sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the transaction, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. This represents a 17.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.96% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC raised its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,396 shares of the company’s stock after acquiring an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. 41.65% of the stock is currently owned by institutional investors.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.