Zai Lab (NASDAQ:ZLAB) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Zai Lab (NASDAQ:ZLAB) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Separately, JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Zai Lab Price Performance

NASDAQ ZLAB opened at $26.93 on Wednesday. The firm has a market cap of $2.95 billion, a P/E ratio of -9.72 and a beta of 1.02. The stock’s 50-day moving average is $26.62 and its two-hundred day moving average is $24.38. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $36.60.

Insider Activity

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

Hedge Funds Weigh In On Zai Lab

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Zai Lab by 26.4% during the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after acquiring an additional 9,107 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Zai Lab by 28.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock worth $4,801,000 after buying an additional 41,128 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Zai Lab during the 4th quarter worth about $511,000. Bamco Inc. NY increased its stake in shares of Zai Lab by 6.4% in the 3rd quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock valued at $46,023,000 after acquiring an additional 113,869 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after purchasing an additional 1,312,115 shares in the last quarter. 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.