Zai Lab (NASDAQ:ZLAB) Sees Large Volume Increase – Still a Buy?

Shares of Zai Lab Limited (NASDAQ:ZLAB) saw unusually-strong trading volume on Friday . Approximately 759,618 shares were traded during trading, an increase of 12% from the previous session’s volume of 678,831 shares.The stock last traded at $28.38 and had previously closed at $26.67.

Analyst Upgrades and Downgrades

ZLAB has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

Zai Lab Stock Performance

The company’s 50 day simple moving average is $25.78 and its 200-day simple moving average is $20.94. The firm has a market capitalization of $2.70 billion, a PE ratio of -10.33 and a beta of 1.04.

Institutional Investors Weigh In On Zai Lab

A number of institutional investors and hedge funds have recently made changes to their positions in ZLAB. BNP Paribas Financial Markets increased 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 worth $43,000 after acquiring an additional 904 shares during the last quarter. Headlands Technologies LLC bought a new stake in Zai Lab during the first quarter valued at approximately $64,000. Russell Investments Group Ltd. grew its stake in Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after buying an additional 99,355 shares in the last quarter. M&G Plc bought a new position in shares of Zai Lab in the 1st quarter worth $7,266,000. Finally, Capital International Inc. CA raised its position in shares of Zai Lab by 6.7% during the 1st quarter. Capital International Inc. CA now owns 92,108 shares of the company’s stock valued at $1,476,000 after buying an additional 5,815 shares in the last quarter. Hedge funds and other 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.