Zai Lab (NASDAQ:ZLAB) Shares Gap Down – Should You Sell?

Zai Lab Limited (NASDAQ:ZLAB) gapped down prior to trading on Thursday . The stock had previously closed at $29.95, but opened at $27.59. Zai Lab shares last traded at $27.79, with a volume of 112,452 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ZLAB shares. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th.

Zai Lab Trading Down 8.9 %

The firm’s 50 day moving average is $25.78 and its two-hundred day moving average is $20.94. The firm has a market cap of $2.72 billion, a P/E ratio of -10.04 and a beta of 1.04.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Capital World Investors lifted its stake in Zai Lab by 8.9% in the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Zai Lab by 9.6% in the first quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock valued at $70,924,000 after buying an additional 387,729 shares in the last quarter. Bamco Inc. NY lifted its stake in Zai Lab by 7.3% in the first quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock valued at $25,630,000 after buying an additional 108,991 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after buying an additional 125,532 shares in the last quarter. Finally, M&G Plc bought a new position in Zai Lab in the first quarter valued at approximately $7,266,000. Institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

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.