Zai Lab (NASDAQ:ZLAB) Shares Gap Up – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $29.00, but opened at $30.73. Zai Lab shares last traded at $32.72, with a volume of 275,757 shares trading hands.

Wall Street Analyst Weigh In

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

Zai Lab Stock Up 0.1 %

The stock has a 50 day moving average price of $26.66 and a 200 day moving average price of $25.07. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -11.19 and a beta of 1.02.

Insider Activity

In other news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the sale, the insider now directly owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in Zai Lab in the fourth quarter worth approximately $29,000. Pictet Asset Management Holding SA bought a new stake in Zai Lab in the fourth quarter worth approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock worth $1,496,000 after purchasing an additional 1,200 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock worth $1,161,000 after purchasing an additional 1,790 shares in the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

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.