Zai Lab (NASDAQ:ZLAB) Trading Up 11.7% – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB) shot up 11.7% during mid-day trading on Friday . The stock traded as high as $35.00 and last traded at $34.62. 435,270 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 677,179 shares. The stock had previously closed at $30.99.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th.

Zai Lab Trading Up 8.7 %

The stock’s fifty day moving average is $26.75 and its two-hundred day moving average is $25.11. The company has a market capitalization of $3.69 billion, a PE ratio of -12.18 and a beta of 1.02.

Insider Activity

In related news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.88% of the company’s stock.

Institutional Trading of Zai Lab

A number of large investors have recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. bought a new stake in Zai Lab during the 4th quarter valued at $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab in the fourth quarter valued at $31,000. Barclays PLC raised its stake in shares of Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock valued at $97,000 after purchasing an additional 2,856 shares during the period. US Bancorp DE lifted its holdings in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Jasper Ridge Partners L.P. purchased a new stake in Zai Lab during the 4th quarter worth about $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.