Zai Lab Limited (NASDAQ:ZLAB) Sees Large Growth in Short Interest

Zai Lab Limited (NASDAQ:ZLAB) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,160,000 shares, an increase of 40.5% from the July 15th total of 2,960,000 shares. Based on an average daily trading volume, of 648,500 shares, the days-to-cover ratio is currently 6.4 days.

Analyst Upgrades and Downgrades

ZLAB has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $58.97.

Zai Lab Stock Up 2.5 %

Shares of ZLAB stock opened at $16.65 on Friday. The stock’s 50-day moving average is $18.20 and its 200 day moving average is $18.26. Zai Lab has a 1-year low of $13.48 and a 1-year high of $31.22.

Insider Buying and Selling

In other Zai Lab news, insider Harald Reinhart sold 7,431 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $133,014.90. Following the transaction, the insider now owns 62,619 shares of the company’s stock, valued at approximately $1,120,880.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zai Lab news, insider Harald Reinhart sold 7,431 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total value of $133,014.90. Following the completion of the sale, the insider now directly owns 62,619 shares of the company’s stock, valued at approximately $1,120,880.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ying Du sold 23,939 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders sold 50,934 shares of company stock valued at $902,743. Insiders own 5.23% of the company’s stock.

Institutional Trading of Zai Lab

A number of institutional investors have recently modified their holdings of ZLAB. BNP Paribas Financial Markets lifted its position in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Zai Lab during the first quarter worth $64,000. Sectoral Asset Management Inc. lifted its holdings in shares of Zai Lab by 33.3% during the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after purchasing an additional 1,000 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Zai Lab in the 4th quarter worth $116,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 64.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock worth $153,000 after purchasing an additional 3,728 shares in 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.