Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume – Here’s What Happened

Zai Lab Limited (NASDAQ:ZLAB) shares saw unusually-strong trading volume on Monday . Approximately 1,701,288 shares were traded during trading, an increase of 125% from the previous session’s volume of 756,319 shares.The stock last traded at $33.38 and had previously closed at $33.78.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a report on Wednesday, February 5th.

Zai Lab Trading Down 2.5 %

The stock has a market capitalization of $3.61 billion, a P/E ratio of -11.90 and a beta of 1.02. The company has a 50-day moving average price of $26.90 and a two-hundred day moving average price of $25.33.

Insider Activity

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ZLAB. Janus Henderson Group PLC grew its position in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after acquiring an additional 2,232,507 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after buying an additional 1,312,115 shares during the period. FMR LLC lifted its position in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after purchasing an additional 4,830,646 shares during the period. RTW Investments LP bought a new stake in Zai Lab during the 4th quarter valued at approximately $65,714,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Zai Lab by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock worth $61,653,000 after acquiring an additional 548,378 shares in the last quarter. Hedge funds and other 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.