Zai Lab (NASDAQ:ZLAB) Stock Price Down 4.9% – Time to Sell?

Zai Lab Limited (NASDAQ:ZLAB) dropped 4.9% during mid-day trading on Monday . The stock traded as low as $25.55 and last traded at $25.74. Approximately 200,004 shares were traded during trading, a decline of 71% from the average daily volume of 690,997 shares. The stock had previously closed at $27.06.

Analyst Upgrades and Downgrades

ZLAB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th.

Zai Lab Trading Down 7.0 %

The firm has a 50 day moving average price of $26.06 and a two-hundred day moving average price of $21.13. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -9.30 and a beta of 1.04.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zai Lab during the 3rd quarter valued at approximately $225,000. Daiwa Securities Group Inc. lifted its position in shares of Zai Lab by 4,851.8% in the 3rd 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 during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after acquiring an additional 3,514 shares during the last quarter. Finally, RBF Capital LLC acquired a new position in Zai Lab during the 3rd quarter valued at approximately $241,000. 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.