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.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Zai Lab by 608.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,280 shares of the company’s stock valued at $95,000 after acquiring an additional 1,958 shares during the last quarter. Bank of America Corp DE raised its stake in Zai Lab by 19.9% during the 4th quarter. Bank of America Corp DE now owns 2,666 shares of the company’s stock valued at $110,000 after acquiring an additional 442 shares during the last quarter. Barclays PLC raised its stake in Zai Lab by 496.6% during the 3rd quarter. Barclays PLC now owns 4,051 shares of the company’s stock valued at $131,000 after acquiring an additional 3,372 shares during the last quarter. Hershey Trust Co. purchased a new stake in Zai Lab during the 3rd quarter valued at approximately $148,000. Finally, Bank of New York Mellon Corp acquired a new position in Zai Lab during the 4th quarter worth approximately $240,000. 63.76% of the stock is owned by hedge funds and other institutional investors.

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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