Zai Lab (NASDAQ:ZLAB) Stock Price Up 6.5% – Should You Buy?

Zai Lab Limited (NASDAQ:ZLAB)’s stock price traded up 6.5% during mid-day trading on Friday . The stock traded as high as $28.80 and last traded at $28.07. 149,807 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 634,141 shares. The stock had previously closed at $26.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zai Lab currently has an average rating of “Buy” and an average target price of $56.21.

Zai Lab Trading Up 4.6 %

The firm has a market cap of $2.75 billion, a P/E ratio of -8.03 and a beta of 1.08. The firm has a 50-day simple moving average of $21.05 and a 200-day simple moving average of $18.90.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. Research analysts predict that Zai Lab Limited will post -2.95 earnings per share for the current fiscal year.

Insider Transactions at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Zai Lab in the first quarter worth $64,000. Swedbank AB acquired a new stake in shares of Zai Lab during the first quarter worth $244,000. Dimensional Fund Advisors LP purchased a new stake in shares of Zai Lab during the second quarter valued at $270,000. Finally, Tidal Investments LLC acquired a new position in shares of Zai Lab in the 1st quarter valued at $334,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

About Zai Lab

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.