Zai Lab (NASDAQ:ZLAB) Sets New 52-Week Low at $14.01

Zai Lab Limited (NASDAQ:ZLAB) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.01 and last traded at $14.23, with a volume of 72641 shares changing hands. The stock had previously closed at $14.20.

Analyst Ratings Changes

ZLAB has been the subject of several recent research reports. Citigroup decreased their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab has a consensus rating of “Buy” and a consensus target price of $64.22.

Zai Lab Price Performance

The firm has a 50 day moving average of $18.28 and a two-hundred day moving average of $23.12. The stock has a market cap of $1.44 billion, a PE ratio of -4.11 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The firm had revenue of $65.83 million during the quarter, compared to analysts’ expectations of $70.41 million. As a group, equities analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZLAB. Wellington Management Group LLP increased its holdings in shares of Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after purchasing an additional 3,413,829 shares during the period. Vanguard Group Inc. grew its holdings in Zai Lab by 54.8% during the third quarter. Vanguard Group Inc. now owns 3,553,080 shares of the company’s stock worth $121,515,000 after acquiring an additional 1,258,009 shares during the period. Norges Bank acquired a new position in Zai Lab during the fourth quarter worth $32,784,000. Invesco Ltd. grew its holdings in Zai Lab by 13.9% during the first quarter. Invesco Ltd. now owns 8,258,118 shares of the company’s stock worth $363,192,000 after acquiring an additional 1,006,575 shares during the period. Finally, Capital International Investors acquired a new position in Zai Lab during the first quarter worth $43,068,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

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.