Zai Lab (NASDAQ:ZLAB) Shares Up 10.3% – What’s Next?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) shares shot up 10.3% during trading on Monday . The company traded as high as $20.32 and last traded at $20.5150. 204,580 shares traded hands during trading, a decline of 73% from the average session volume of 756,187 shares. The stock had previously closed at $18.60.

Analysts Set New Price Targets

A number of brokerages have commented on ZLAB. Weiss Ratings raised Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. Citigroup decreased their price objective on Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday. Cantor Fitzgerald decreased their price objective 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 Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.83.

Zai Lab Trading Up 5.2%

The business has a fifty day moving average of $20.23 and a two-hundred day moving average of $20.12. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -12.07 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The firm had revenue of $99.61 million for the quarter. On average, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.07 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other news, insider Joshua L. Smiley sold 9,614 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $196,029.46. Following the sale, the insider directly owned 120,619 shares in the company, valued at approximately $2,459,421.41. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ying Du sold 5,576 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total value of $113,694.64. Following the completion of the sale, the chief executive officer owned 1,125,279 shares in the company, valued at approximately $22,944,438.81. The trade was a 0.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,187 shares of company stock valued at $930,647 over the last ninety days. 4.96% of the stock is owned by insiders.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC increased its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,396 shares of the company’s stock after acquiring an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. Institutional investors own 41.65% of the company’s stock.

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.