Zai Lab (ZLAB) Reaches New 52-Week Low at $17.52

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Zai Lab Ltd (NASDAQ:ZLAB) shares reached a new 52-week low on Thursday . The company traded as low as $17.52 and last traded at $18.00, with a volume of 73940 shares trading hands. The stock had previously closed at $19.70.

A number of research firms have recently weighed in on ZLAB. Zacks Investment Research downgraded Zai Lab from a “buy” rating to a “hold” rating in a research note on Thursday. Leerink Swann began coverage on Zai Lab in a research note on Thursday, June 21st. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, BidaskClub downgraded Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Zai Lab has an average rating of “Buy” and an average price target of $34.00.

The company has a market capitalization of $1.15 billion and a P/E ratio of -7.76.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Zai Lab by 4,472.7% during the 1st quarter. BlackRock Inc. now owns 20,760 shares of the company’s stock worth $443,000 after buying an additional 20,306 shares during the period. Bamco Inc. NY acquired a new stake in Zai Lab during the 1st quarter worth $1,452,000. Millennium Management LLC raised its stake in Zai Lab by 118.1% during the 1st quarter. Millennium Management LLC now owns 108,091 shares of the company’s stock worth $2,308,000 after buying an additional 58,536 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Zai Lab by 7.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 203,438 shares of the company’s stock worth $4,343,000 after buying an additional 14,827 shares during the period. Finally, Segantii Capital Management Ltd raised its stake in Zai Lab by 38.8% during the 2nd quarter. Segantii Capital Management Ltd now owns 534,445 shares of the company’s stock worth $12,426,000 after buying an additional 149,445 shares during the period. 24.37% of the stock is currently 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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