Zai Lab (NASDAQ:ZLAB) Shares Gap Down – Time to Sell?

Shares of Zai Lab Limited (NASDAQ:ZLAB) gapped down before the market opened on Friday . The stock had previously closed at $37.33, but opened at $35.33. Zai Lab shares last traded at $35.27, with a volume of 73,020 shares.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of several research analyst reports. Bank of America restated a “neutral” rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price target on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Finally, Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock.

Zai Lab Stock Down 4.6 %

The firm has a fifty day moving average of $30.51 and a 200-day moving average of $27.59. The firm has a market cap of $3.90 billion, a P/E ratio of -12.86 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Sell-side analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the transaction, the insider now owns 30,834 shares of the company’s stock, valued at approximately $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,127 shares of company stock valued at $4,139,672. 13.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in shares of Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock worth $1,496,000 after purchasing an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares during the period. Finally, Invesco Ltd. raised its position in shares of Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock worth $1,161,000 after purchasing an additional 1,790 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.