Zai Lab Ltd (NASDAQ:ZLAB) Sees Large Increase in Short Interest
Zai Lab Ltd (NASDAQ:ZLAB) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,730,000 shares, a growth of 14.6% from the January 15th total of 1,510,000 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily volume of 261,700 shares, the short-interest ratio is currently 6.6 days.
ZLAB opened at $60.53 on Friday. The business has a 50 day moving average price of $49.19 and a two-hundred day moving average price of $38.88. The company has a market cap of $3.60 billion, a PE ratio of -22.93 and a beta of 1.34. Zai Lab has a 52 week low of $23.42 and a 52 week high of $62.64.
Several analysts have recently weighed in on ZLAB shares. Citigroup boosted their target price on Zai Lab from $65.00 to $84.00 and gave the company a “buy” rating in a report on Monday, December 30th. Zacks Investment Research raised Zai Lab from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Saturday, February 8th. Finally, BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 20th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $54.11.
About Zai Lab
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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