Zai Lab (NASDAQ:ZLAB) Trading Up 10% – Should You Buy?

Zai Lab Limited (NASDAQ:ZLAB) traded up 10% during mid-day trading on Wednesday . The stock traded as high as $32.03 and last traded at $31.85. 115,439 shares changed hands during trading, a decline of 83% from the average session volume of 666,083 shares. The stock had previously closed at $28.96.

Analyst Ratings Changes

Several brokerages have commented on ZLAB. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of 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 Stock Up 5.0 %

The stock’s 50-day moving average price is $25.57 and its 200 day moving average price is $20.88. The company has a market cap of $3.03 billion, a P/E ratio of -11.19 and a beta of 1.04.

Insider Activity

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the last quarter. Headlands Technologies LLC acquired a new position in Zai Lab in the first quarter valued at about $64,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 3,514 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Zai Lab by 4,851.8% in 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. Finally, Swedbank AB bought a new position in Zai Lab in the first quarter valued at about $244,000. Institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

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.