Zai Lab (NASDAQ:ZLAB) Shares Down 8.3% – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB) shares fell 8.3% during trading on Tuesday . The stock traded as low as $28.31 and last traded at $28.52. 239,078 shares were traded during trading, a decline of 64% from the average session volume of 664,517 shares. The stock had previously closed at $31.09.

Analysts Set New Price Targets

Several research firms have recently weighed in on ZLAB. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Price Performance

The company’s 50 day moving average price is $25.16 and its 200 day moving average price is $20.68. The firm has a market capitalization of $2.88 billion, a P/E ratio of -9.33 and a beta of 1.04.

Insider Transactions at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the sale, the insider now owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in Zai Lab during the third quarter worth about $1,666,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Zai Lab by 26.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock worth $14,584,000 after acquiring an additional 125,532 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Zai Lab by 22.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company’s stock worth $899,000 after buying an additional 6,648 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in Zai Lab by 14.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock valued at $3,432,000 after purchasing an additional 18,093 shares during the period. 41.65% of the stock is 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.