Zai Lab (NASDAQ:ZLAB) Shares Climb 3.8% – Time to Buy?

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) shot up 3.8% on Monday. The company traded as high as $26.12 and last traded at $25.93. 164,998 shares traded hands during trading, a decline of 81% from the average session volume of 859,881 shares. The stock had previously closed at $24.98.

Analyst Upgrades and Downgrades

ZLAB has been the topic of several research reports. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research raised shares of Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Citigroup upped their price target on shares of Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Zai Lab Trading Up 4.1%

The stock’s 50-day moving average price is $23.80 and its 200-day moving average price is $20.99. The company has a market cap of $2.96 billion, a P/E ratio of -15.21 and a beta of 0.83.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. The business had revenue of $106.31 million during the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. On average, research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William Lis sold 8,506 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total value of $212,650.00. Following the transaction, the director owned 41,931 shares in the company, valued at $1,048,275. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ying Du sold 7,026 shares of Zai Lab stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $18.53, for a total value of $130,191.78. Following the transaction, the chief executive officer directly owned 1,203,784 shares in the company, valued at approximately $22,306,117.52. The trade was a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,411 shares of company stock worth $365,337 in the last 90 days. Corporate insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new stake in shares of Zai Lab in the 2nd quarter worth $79,000. Headlands Technologies LLC lifted its position in shares of Zai Lab by 142.0% during the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after purchasing an additional 39,901 shares in the last quarter. Finally, Seven Fleet Capital Management LP lifted its position in shares of Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after purchasing an additional 58,158 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Company Profile

Zai Lab Limited is a biopharmaceutical company focused on discovering, developing and commercializing medicines for significant unmet medical needs. The company’s research and development activities have centered on oncology, autoimmune and inflammatory diseases, infectious diseases, and neuroscience. Zai Lab operates through a combination of internally developed programs and collaborations with global pharmaceutical and biotechnology companies.

The company has built a commercial portfolio in Greater China that has included ZEJULA (niraparib), a PARP inhibitor used in certain ovarian cancer settings; QINLOCK (ripretinib), a treatment for gastrointestinal stromal tumors; and NUZYRA (omadacycline), an antibiotic for certain bacterial infections.