Zai Lab (NASDAQ:ZLAB) Shares Gap Up – Here’s Why

Shares of Zai Lab Limited (NASDAQ:ZLAB) gapped up before the market opened on Tuesday . The stock had previously closed at $32.95, but opened at $35.08. Zai Lab shares last traded at $34.21, with a volume of 207,702 shares trading hands.

Wall Street Analysts Forecast Growth

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

Zai Lab Stock Performance

The business’s 50 day moving average is $27.03 and its 200 day moving average is $25.44. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -12.20 and a beta of 1.02.

Insider Activity

In related news, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The shares were 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 represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 13.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the fourth quarter valued at approximately $29,000. Public Employees Retirement System of Ohio lifted its stake in Zai Lab by 20.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock valued at $484,000 after buying an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Zai Lab by 2.1% in the 4th 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 buying an additional 1,200 shares during the last quarter. Woodline Partners LP boosted its holdings in Zai Lab by 9.4% in the 4th quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock worth $46,089,000 after buying an additional 151,835 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new stake in Zai Lab during the 4th quarter worth approximately $7,857,000. 41.65% of the stock is currently 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.