Zai Lab (NASDAQ:ZLAB) Shares Gap Up to $15.90

Shares of Zai Lab Limited (NASDAQ:ZLAB) gapped up before the market opened on Thursday . The stock had previously closed at $15.90, but opened at $17.25. Zai Lab shares last traded at $16.77, with a volume of 146,103 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Citigroup dropped their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $64.22.

Zai Lab Price Performance

The company’s 50-day moving average price is $17.07 and its 200-day moving average price is $22.29.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The company had revenue of $65.83 million during the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. Sell-side analysts forecast that Zai Lab Limited will post -3.27 EPS for the current year.

Insider Transactions at Zai Lab

In other news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now directly owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the sale, the insider now directly owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,568 shares of company stock valued at $208,508. Corporate insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its position in Zai Lab by 313.5% in the first quarter. GSA Capital Partners LLP now owns 45,573 shares of the company’s stock valued at $730,000 after purchasing an additional 34,552 shares during the period. BNP Paribas Financial Markets increased its position in shares of Zai Lab by 51.2% during 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 during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Zai Lab by 64.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock worth $153,000 after purchasing an additional 3,728 shares during the last quarter. Vivo Capital LLC raised its holdings in Zai Lab by 29.0% in the 1st quarter. Vivo Capital LLC now owns 531,198 shares of the company’s stock valued at $8,510,000 after buying an additional 119,521 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Zai Lab by 35.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock valued at $1,012,000 after buying an additional 16,659 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.