Zai Lab (NASDAQ:ZLAB) Earns “Overweight” Rating from Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports.

Separately, JPMorgan Chase & Co. reduced their price objective on Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $58.97.

Zai Lab Trading Down 4.7 %

Shares of NASDAQ:ZLAB traded down $0.86 during midday trading on Wednesday, reaching $17.25. The company had a trading volume of 566,914 shares, compared to its average volume of 627,361. The stock has a market cap of $1.72 billion, a P/E ratio of -4.91 and a beta of 1.06. The company’s 50 day moving average price is $18.42 and its 200 day moving average price is $18.50. Zai Lab has a 52-week low of $13.48 and a 52-week high of $31.22.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. The business had revenue of $87.15 million during the quarter, compared to analyst estimates of $77.07 million. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. During the same quarter in the previous year, the firm earned ($0.51) EPS. Research analysts forecast that Zai Lab will post -2.76 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ying Du sold 23,939 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total value of $428,508.10. Following the sale, the chief executive officer now owns 1,142,833 shares in the company, valued at $20,456,710.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ying Du sold 23,939 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total transaction of $428,508.10. Following the completion of the transaction, the chief executive officer now owns 1,142,833 shares in the company, valued at $20,456,710.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Frazor Titus Edmondson III sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $21.33, for a total value of $213,300.00. Following the completion of the sale, the insider now directly owns 16,408 shares of the company’s stock, valued at approximately $349,982.64. The disclosure for this sale can be found here. Insiders have sold 60,934 shares of company stock worth $1,116,043 over the last ninety days. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently bought and sold shares of the business. TD Asset Management Inc grew its stake in shares of Zai Lab by 1.4% during the second quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock worth $3,847,000 after buying an additional 3,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Zai Lab by 96.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 124,096 shares of the company’s stock worth $2,151,000 after acquiring an additional 60,927 shares during the period. Swedbank AB bought a new position in shares of Zai Lab in the first quarter valued at approximately $244,000. Tidal Investments LLC purchased a new stake in shares of Zai Lab during the 1st quarter valued at $334,000. Finally, Janus Henderson Group PLC lifted its stake in Zai Lab by 9.6% in the first quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after purchasing an additional 387,729 shares during the last quarter. 41.65% of the stock is currently owned by 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.