Zai Lab Limited (NASDAQ:ZLAB – Get Rating)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $34.88, but opened at $32.88. Zai Lab shares last traded at $33.26, with a volume of 1,911 shares.
Analysts Set New Price Targets
ZLAB has been the topic of a number of recent research reports. Citigroup lowered their price target on shares of Zai Lab from $199.00 to $127.00 and set a “buy” rating on the stock in a research report on Friday, November 11th. Guggenheim lowered their price target on shares of Zai Lab to $83.00 in a research report on Thursday, October 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Zai Lab from $96.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, November 18th.
Zai Lab Stock Performance
The stock has a market capitalization of $3.27 billion, a P/E ratio of -5.37 and a beta of 0.92. The firm’s fifty day simple moving average is $33.14 and its 200 day simple moving average is $36.13.
Insider Activity at Zai Lab
In related news, insider Harald Reinhart sold 1,854 shares of Zai Lab stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $40.00, for a total transaction of $74,160.00. Following the sale, the insider now directly owns 24,861 shares of the company’s stock, valued at approximately $994,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.53% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Zai Lab
Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new stake in shares of Zai Lab during the 3rd quarter valued at approximately $28,000. Activest Wealth Management bought a new stake in shares of Zai Lab during the 3rd quarter valued at approximately $46,000. AdvisorNet Financial Inc grew its holdings in shares of Zai Lab by 100.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,600 shares of the company’s stock valued at $55,000 after purchasing an additional 800 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Zai Lab during the 1st quarter valued at approximately $210,000. Finally, Aigen Investment Management LP boosted its position in Zai Lab by 56.0% during the 1st quarter. Aigen Investment Management LP now owns 5,502 shares of the company’s stock worth $242,000 after buying an additional 1,974 shares during the period.
Zai Lab Company Profile
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.
- Get a free copy of the StockNews.com research report on Zai Lab (ZLAB)
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