Zai Lab (NASDAQ:ZLAB) Stock Price Down 3.7% – Time to Sell?

Zai Lab Limited (NASDAQ:ZLAB)’s stock price dropped 3.7% during trading on Friday . The stock traded as low as $31.52 and last traded at $31.95. Approximately 83,010 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 656,801 shares. The stock had previously closed at $33.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zai Lab presently has a consensus rating of “Buy” and a consensus target price of $57.71.

Zai Lab Trading Down 2.0 %

The business has a 50 day moving average price of $22.35 and a 200 day moving average price of $19.36. The company has a market capitalization of $3.24 billion, a P/E ratio of -9.51 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). The firm had revenue of $100.50 million during the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. On average, analysts forecast that Zai Lab Limited will post -2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of large investors have recently made changes to their positions in ZLAB. Capital World Investors boosted its holdings in Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Zai Lab by 9.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock valued at $70,924,000 after acquiring an additional 387,729 shares during the last quarter. Bamco Inc. NY increased its holdings in Zai Lab by 7.3% in the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after purchasing an additional 108,991 shares in the last quarter. M&G Plc bought a new position in Zai Lab in the first quarter valued at about $7,266,000. Finally, Russell Investments Group Ltd. increased its holdings in Zai Lab by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock valued at $4,706,000 after purchasing an additional 99,355 shares during the period. Institutional investors 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.