Zai Lab (NASDAQ:ZLAB) Shares Down 8.3% – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB)’s share price was down 8.3% during trading on Tuesday . The stock traded as low as $28.31 and last traded at $28.52. Approximately 239,078 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 664,517 shares. The stock had previously closed at $31.09.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ZLAB shares. JPMorgan Chase & Co. lifted their target price on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th.

Zai Lab Stock Up 3.4 %

The company has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $20.94.

Insider Activity at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the completion of the transaction, the insider now directly owns 43,232 shares in the company, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.88% of the stock is owned by insiders.

Institutional Trading of Zai Lab

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its stake in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares in the last quarter. TD Asset Management Inc grew 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 purchasing an additional 3,000 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Zai Lab by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company’s stock valued at $2,923,000 after purchasing an additional 3,860 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Zai Lab in the first quarter valued at approximately $64,000. 41.65% of the stock is currently 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.