Zai Lab (NASDAQ:ZLAB) Trading Down 4.5%

Zai Lab Limited (NASDAQ:ZLAB)’s share price traded down 4.5% during trading on Wednesday . The company traded as low as $128.60 and last traded at $128.60. 15,026 shares were traded during mid-day trading, a decline of 97% from the average session volume of 491,534 shares. The stock had previously closed at $134.59.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 4th. SVB Leerink boosted their price target on Zai Lab from $192.00 to $202.00 and gave the company an “outperform” rating in a report on Tuesday, June 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $199.85.

The firm has a market cap of $12.31 billion, a P/E ratio of -38.90 and a beta of 1.11. The firm has a fifty day moving average of $148.04 and a 200-day moving average of $152.73.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Monday, August 9th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($0.21). The company had revenue of $36.94 million during the quarter, compared to analyst estimates of $24.20 million. As a group, equities research analysts forecast that Zai Lab Limited will post -6.88 earnings per share for the current fiscal year.

In other news, insider Harald Reinhart sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 13th. The stock was sold at an average price of $169.92, for a total value of $1,359,360.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ying Du sold 83,858 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $175.70, for a total value of $14,733,850.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,125 shares of company stock worth $46,486,913. Company insiders own 7.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in Zai Lab by 17.3% during the first quarter. Quadrant Capital Group LLC now owns 591 shares of the company’s stock worth $79,000 after buying an additional 87 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Zai Lab during the second quarter worth approximately $80,000. Signaturefd LLC grew its position in Zai Lab by 82.2% during the first quarter. Signaturefd LLC now owns 676 shares of the company’s stock worth $90,000 after buying an additional 305 shares in the last quarter. Eaton Vance Management acquired a new stake in Zai Lab during the first quarter worth approximately $96,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Zai Lab during the first quarter worth approximately $102,000. 64.16% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Company Profile (NASDAQ:ZLAB)

Zai Lab Ltd. is a biopharmaceutical company. It engages in the discovering, licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need in the fields of oncology, infectious, and autoimmune diseases. The firm’s products include Zejula and Optune. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.

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