Zai Lab (NASDAQ:ZLAB) Sets New 12-Month High at $35.44

Shares of Zai Lab Ltd (NASDAQ:ZLAB) hit a new 52-week high on Thursday . The stock traded as high as $35.44 and last traded at $35.32, with a volume of 1854 shares traded. The stock had previously closed at $34.69.

Several analysts recently weighed in on the company. BidaskClub upgraded Zai Lab from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Zacks Investment Research downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. Finally, Leerink Swann set a $46.00 price objective on Zai Lab and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.90.

The firm has a 50-day simple moving average of $29.22.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Zai Lab by 0.4% in the 1st quarter. FMR LLC now owns 5,835,589 shares of the company’s stock valued at $172,208,000 after acquiring an additional 25,011 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Zai Lab by 2.7% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock valued at $26,652,000 after acquiring an additional 23,519 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Zai Lab by 31.9% in the 1st quarter. Clearbridge Investments LLC now owns 92,813 shares of the company’s stock valued at $2,739,000 after acquiring an additional 22,447 shares during the last quarter. Atika Capital Management LLC lifted its stake in shares of Zai Lab by 57.7% in the 1st quarter. Atika Capital Management LLC now owns 175,000 shares of the company’s stock valued at $5,165,000 after acquiring an additional 64,000 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Zai Lab by 11.7% in the 1st quarter. Federated Investors Inc. PA now owns 463,755 shares of the company’s stock valued at $13,685,000 after acquiring an additional 48,755 shares during the last quarter. 36.19% of the stock is owned by institutional investors and hedge funds.

Zai Lab Company Profile (NASDAQ:ZLAB)

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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