Key Points
- Director Richard Gaynor bought 1,228 Zai Lab shares at an average price of $27.19, spending about $33,389. The purchase increased his ownership by 1.52% to 81,965 shares.
- Zai Lab reported a quarterly loss of $0.41 per share, better than analysts’ expected $0.59 loss, and revenue of $108.21 million, slightly above estimates.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $37.25; shares were trading at $24.60 in the article’s market update.
Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) Director Richard Gaynor bought 1,228 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average cost of $27.19 per share, for a total transaction of $33,389.32. Following the completion of the transaction, the director owned 81,965 shares in the company, valued at $2,228,628.35. This trade represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Zai Lab Stock Performance
ZLAB stock traded down $1.44 during midday trading on Friday, reaching $24.60. The stock had a trading volume of 1,224,327 shares, compared to its average volume of 1,295,968. The stock has a market cap of $3.08 billion, a PE ratio of -13.74 and a beta of 0.77. The firm has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $21.26. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $29.02.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.59) by $0.18. The company had revenue of $108.21 million during the quarter, compared to analysts' expectations of $107.90 million. Zai Lab had a negative return on equity of 31.15% and a negative net margin of 44.91%. On average, sell-side analysts predict that Zai Lab Limited Unsponsored ADR will post -2.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ZLAB. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of Zai Lab from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Citigroup increased their price target on shares of Zai Lab from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Zai Lab in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.25.
View Our Latest Stock Analysis on Zai Lab
Institutional Investors Weigh In On Zai Lab
Hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC boosted its holdings in Zai Lab by 65.0% during the third quarter. Nantahala Capital Management LLC now owns 330,000 shares of the company's stock worth $8,692,000 after buying an additional 130,000 shares in the last quarter. HighVista Strategies LLC purchased a new position in Zai Lab in the third quarter valued at $609,000. Nan Fung Trinity HK Ltd. increased its holdings in Zai Lab by 106.9% in the third quarter. Nan Fung Trinity HK Ltd. now owns 293,966 shares of the company's stock valued at $7,743,000 after buying an additional 151,883 shares in the last quarter. Alps Advisors Inc. increased its holdings in Zai Lab by 34.9% in the third quarter. Alps Advisors Inc. now owns 148,993 shares of the company's stock valued at $3,924,000 after buying an additional 38,562 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Zai Lab in the third quarter worth about $62,000. Hedge funds and other institutional investors own 41.65% of the company's stock.
Zai Lab News Roundup
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About Zai Lab
(
Get Free Report)
Zai Lab is a biopharmaceutical company that discovers, develops and commercializes medicines for patients with serious diseases. Its research and development programs focus on oncology, immunology, neuroscience and infectious diseases. Founded in 2014 by biopharmaceutical executive Samantha Du, the company is headquartered in Shanghai and operates in China and the United States. It advances its own drug candidates and works with international partners to develop and bring therapies to market. Zai Lab's portfolio includes medicines and development programs for cancers and other conditions, including therapies introduced through licensing and collaboration agreements.
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