Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Here’s What Happened

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $18.77, but opened at $19.74. Zai Lab shares last traded at $20.1590, with a volume of 164,001 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZLAB shares. UBS Group started coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.59.

Zai Lab Stock Performance

The stock has a market capitalization of $2.24 billion, a PE ratio of -10.27 and a beta of 0.88. The firm’s 50 day moving average is $18.06 and its two-hundred day moving average is $25.43.

Insider Buying and Selling

In related news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the transaction, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. The trade was a 17.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,396 shares of the company’s stock after buying an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.