Zai Lab Limited (NASDAQ:ZLAB) Short Interest Update

Zai Lab Limited (NASDAQ:ZLAB) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 7,710,000 shares, a growth of 27.4% from the January 15th total of 6,050,000 shares. Based on an average trading volume of 807,800 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. increased their target price on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Insider Transactions at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the sale, the insider now owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Several hedge funds have recently made changes to their positions in ZLAB. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. boosted its stake 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 buying an additional 1,502 shares during the period. Invesco Ltd. boosted its stake 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 buying an additional 1,790 shares during the period. M&T Bank Corp boosted its stake in shares of Zai Lab by 9.6% during the third quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock worth $608,000 after buying an additional 2,209 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Zai Lab by 8.0% during the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock worth $763,000 after buying an additional 2,335 shares during the period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Price Performance

NASDAQ:ZLAB opened at $29.00 on Friday. The business’s fifty day moving average price is $26.52 and its 200 day moving average price is $24.78. Zai Lab has a 12 month low of $13.48 and a 12 month high of $36.60.

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.