Zai Lab (NASDAQ:ZLAB) Shares Gap Down – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB) shares gapped down before the market opened on Thursday . The stock had previously closed at $26.19, but opened at $25.40. Zai Lab shares last traded at $25.22, with a volume of 176,857 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on ZLAB shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th. 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, October 21st.

Zai Lab Stock Down 5.3 %

The business’s 50 day moving average price is $28.29 and its 200-day moving average price is $22.99. The company has a market cap of $2.69 billion, a PE ratio of -8.95 and a beta of 0.99.

Institutional Investors Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Zai Lab during the third quarter worth about $225,000. Daiwa Securities Group Inc. grew its stake in Zai Lab by 4,851.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after purchasing an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares during the last quarter. RBF Capital LLC acquired a new position in shares of Zai Lab in the 3rd quarter valued at approximately $241,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab in the 2nd quarter valued at approximately $270,000. Hedge funds and other institutional investors 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.