Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Should You Buy?

Zai Lab Limited (NASDAQ:ZLAB) gapped up prior to trading on Tuesday . The stock had previously closed at $25.41, but opened at $27.28. Zai Lab shares last traded at $26.33, with a volume of 378,720 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ZLAB shares. JPMorgan Chase & Co. lifted their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th.

Zai Lab Price Performance

The firm has a market cap of $2.66 billion, a PE ratio of -8.77 and a beta of 1.00. The firm has a 50-day simple moving average of $27.73 and a 200 day simple moving average of $23.21.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently modified their holdings of ZLAB. Y Intercept Hong Kong Ltd purchased a new stake in Zai Lab during the 3rd quarter valued at about $225,000. Daiwa Securities Group Inc. lifted its stake in shares of Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock valued at $231,000 after buying an additional 3,514 shares during the last quarter. RBF Capital LLC bought a new stake in shares of Zai Lab during the third quarter valued at approximately $241,000. Finally, Dimensional Fund Advisors LP purchased a new position in Zai Lab in the 2nd quarter worth 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.