Zai Lab (NASDAQ:ZLAB) Sets New 12-Month Low at $15.53

Zai Lab Limited (NASDAQ:ZLABGet Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.53 and last traded at $15.62, with a volume of 59184 shares trading hands. The stock had previously closed at $16.04.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZLAB. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Citigroup decreased 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 note on Thursday, February 29th. Finally, Morgan Stanley started coverage on shares of Zai Lab in a research note on Thursday, December 14th. They set an “overweight” rating and a $47.50 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has a consensus rating of “Buy” and an average target price of $64.22.

Read Our Latest Stock Report on ZLAB

Zai Lab Stock Down 0.7 %

The firm’s 50 day moving average is $19.58 and its two-hundred day moving average is $23.73.

Zai Lab (NASDAQ:ZLABGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million during the quarter, compared to the consensus estimate of $70.41 million. On average, analysts forecast that Zai Lab Limited will post -3.1 EPS for the current year.

Insider Buying and Selling

In related news, insider Rafael Amado sold 2,544 shares of the business’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 transaction, the insider now owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

Hedge funds and other institutional investors have recently bought and sold shares of the company. 1832 Asset Management L.P. acquired a new position in shares of Zai Lab during the fourth quarter valued at about $28,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Zai Lab by 68.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after purchasing an additional 557 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Zai Lab by 45.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after purchasing an additional 548 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Zai Lab by 58.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after purchasing an additional 2,424 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

(Get Free Report)

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.

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