Zai Lab (NASDAQ:ZLAB) Hits New 52-Week Low – Here’s Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $19.42 and last traded at $19.6960, with a volume of 53694 shares traded. The stock had previously closed at $19.88.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of research reports. Citigroup reiterated a “buy” rating and set a $69.00 target price (up previously from $66.00) on shares of Zai Lab in a report on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group started coverage on Zai Lab in a research report on Monday, August 25th. They set a “buy” rating and a $52.00 price target for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.35.

Zai Lab Stock Up 1.0%

The stock’s fifty day moving average is $26.11 and its two-hundred day moving average is $31.77. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -10.23 and a beta of 0.87.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $116.10 million during the quarter, compared to analyst estimates of $150.24 million. Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. As a group, analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of $28.91 per share, for a total transaction of $289,100.00. Following the purchase, the insider owned 86,604 shares in the company, valued at approximately $2,503,721.64. The trade was a 13.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.96% of the company’s stock.

Institutional Trading of Zai Lab

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Zai Lab during the third quarter worth approximately $331,000. Acadian Asset Management LLC bought a new stake in Zai Lab in the 1st quarter valued at $1,073,000. MPM Bioimpact LLC grew its holdings in Zai Lab by 4.2% in the 1st quarter. MPM Bioimpact LLC now owns 833,659 shares of the company’s stock valued at $30,128,000 after buying an additional 33,659 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Zai Lab during the 1st quarter worth $12,649,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Zai Lab by 29.0% in the first quarter. Cubist Systematic Strategies LLC now owns 93,645 shares of the company’s stock valued at $3,384,000 after acquiring an additional 21,026 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.