Zai Lab (ZLAB) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Separately, Zacks Investment Research upgraded Zai Lab from a hold rating to a buy rating and set a $27.00 target price on the stock in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $34.00.

ZLAB stock traded down $0.70 on Thursday, hitting $17.16. 2,331 shares of the company’s stock were exchanged, compared to its average volume of 124,998. Zai Lab has a 12-month low of $14.29 and a 12-month high of $28.43. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -7.40 and a beta of 2.70.

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Zai Lab by 2.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,118 shares of the company’s stock worth $4,054,000 after buying an additional 5,473 shares during the last quarter. Cambiar Investors LLC purchased a new position in Zai Lab during the 3rd quarter worth $417,000. Segantii Capital Management Ltd grew its stake in Zai Lab by 348.8% during the 3rd quarter. Segantii Capital Management Ltd now owns 2,398,797 shares of the company’s stock worth $46,729,000 after buying an additional 1,864,352 shares during the last quarter. Bank of Montreal Can purchased a new position in Zai Lab during the 3rd quarter worth $159,000. Finally, Northern Trust Corp purchased a new position in Zai Lab during the 2nd quarter worth $224,000. Hedge funds and other institutional investors own 24.47% of the company’s stock.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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