Zai Lab (NASDAQ:ZLAB) Hits New 12-Month High – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $34.07 and last traded at $33.97, with a volume of 99254 shares. The stock had previously closed at $28.94.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab has an average rating of “Buy” and an average price target of $57.71.

Zai Lab Price Performance

The firm has a market cap of $3.57 billion, a P/E ratio of -11.78 and a beta of 1.08. The company’s 50-day moving average is $22.02 and its two-hundred day moving average is $19.26.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. On average, analysts expect that Zai Lab Limited will post -2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now owns 43,232 shares in the company, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Zai Lab by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock valued at $3,847,000 after acquiring an additional 3,000 shares in the last quarter. Headlands Technologies LLC bought a new stake in Zai Lab during the 1st quarter worth $64,000. XTX Topco Ltd increased its holdings in Zai Lab by 19.2% in the 2nd quarter. XTX Topco Ltd now owns 29,283 shares of the company’s stock worth $507,000 after purchasing an additional 4,710 shares in the last quarter. Finally, Capital International Inc. CA raised its position in Zai Lab by 6.7% in the first quarter. Capital International Inc. CA now owns 92,108 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,815 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

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.