JPMorgan Chase & Co. Trims Zai Lab (NASDAQ:ZLAB) Target Price to $70.00

Zai Lab (NASDAQ:ZLAB – Get Rating) had its price target reduced by JPMorgan Chase & Co. from $79.00 to $70.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $33.85 on Thursday. The company has a market capitalization of $3.31 billion, a PE ratio of -7.31 and a beta of 1.20. The business’s fifty day moving average is $39.59 and its 200 day moving average is $36.62. Zai Lab has a fifty-two week low of $20.98 and a fifty-two week high of $53.95.

Insider Activity at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 7,965 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $40.55, for a total value of $322,980.75. Following the transaction, the insider now directly owns 19,400 shares in the company, valued at $786,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Frazor Titus Edmondson III sold 7,965 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $40.55, for a total value of $322,980.75. Following the transaction, the insider now directly owns 19,400 shares in the company, valued at $786,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Lis sold 5,434 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $38.31, for a total value of $208,176.54. Following the completion of the transaction, the director now owns 23,330 shares in the company, valued at $893,772.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,879 shares of company stock worth $990,357. Corporate insiders own 6.26% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in shares of Zai Lab in the fourth quarter worth about $812,000. Voya Investment Management LLC increased its holdings in shares of Zai Lab by 5.2% in the fourth quarter. Voya Investment Management LLC now owns 9,013 shares of the company’s stock worth $277,000 after purchasing an additional 443 shares during the last quarter. WealthPLAN Partners LLC bought a new stake in shares of Zai Lab in the fourth quarter worth about $1,497,000. 1832 Asset Management L.P. bought a new stake in shares of Zai Lab in the fourth quarter worth about $28,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Zai Lab in the fourth quarter worth about $494,000. 59.46% of the stock is owned by institutional investors.

About Zai Lab

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Zai Lab Ltd. is a biopharmaceutical company, which engages in the developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders, infectious diseases, and neuroscience. Its products include Zejula, Optune, Qinlock, and Nuzyra. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.