Zai Lab (NASDAQ:ZLAB) Hits New 52-Week Low at $14.01

Zai Lab Limited (NASDAQ:ZLAB) reached a new 52-week low during trading on Tuesday . The stock traded as low as $14.01 and last traded at $14.23, with a volume of 72641 shares trading hands. The stock had previously closed at $14.20.

Analyst Upgrades and Downgrades

Several research firms have commented on ZLAB. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup lowered their price target on 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $64.22.

Zai Lab Stock Performance

The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.98 and a beta of 1.10. The business has a fifty day moving average of $18.02 and a two-hundred day moving average of $22.99.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The business had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. As a group, sell-side analysts predict that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 5,787 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Ying Du sold 5,787 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock valued at $208,508 in the last ninety days. 5.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Zai Lab

A number of institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Zai Lab by 35.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock valued at $1,012,000 after acquiring an additional 16,659 shares during the period. Wellington Management Group LLP lifted its position in shares of Zai Lab by 177.6% during the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after buying an additional 3,413,829 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Zai Lab during the 4th quarter worth $301,000. Legal & General Group Plc lifted its position in shares of Zai Lab by 20.1% during the 4th quarter. Legal & General Group Plc now owns 834,457 shares of the company’s stock worth $22,818,000 after buying an additional 139,832 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Zai Lab during the 4th quarter worth $547,000. 41.65% of the stock is currently owned by institutional investors.

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.