Zai Lab’s (NASDAQ:ZLAB) lock-up period is set to expire on Monday, March 19th. Zai Lab had issued 8,333,333 shares in its IPO on September 20th. The total size of the offering was $149,999,994 based on an initial share price of $18.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several equities analysts have issued reports on the company. BidaskClub upgraded Zai Lab from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 10th. Leerink Swann reiterated an “outperform” rating on shares of Zai Lab in a research note on Friday, March 23rd. Finally, JPMorgan Chase upgraded Zai Lab from a “neutral” rating to an “overweight” rating and set a $32.00 target price on the stock in a research note on Wednesday, February 14th.
NASDAQ ZLAB traded down $0.07 during trading on Friday, hitting $21.44. The company’s stock had a trading volume of 65,378 shares, compared to its average volume of 80,223. Zai Lab has a fifty-two week low of $19.80 and a fifty-two week high of $35.74.
Hedge funds and other institutional investors have recently modified their holdings of the business. Martin Currie Ltd. acquired a new stake in Zai Lab in the fourth quarter worth about $178,000. MYDA Advisors LLC acquired a new stake in Zai Lab in the fourth quarter worth about $255,000. Platinum Investment Management Ltd. acquired a new stake in Zai Lab in the fourth quarter worth about $424,000. Pinebridge Investments L.P. acquired a new stake in Zai Lab in the third quarter worth about $945,000. Finally, NINE MASTS CAPITAL Ltd boosted its holdings in Zai Lab by 28.0% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 64,000 shares of the company’s stock worth $1,359,000 after acquiring an additional 14,000 shares in the last quarter. 21.00% of the stock is owned by institutional investors and hedge funds.
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Zai Lab Company Profile
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics for oncology, and autoimmune and infectious disease therapies in China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor for the treatment of ovarian, breast, and lung cancers; ZL-2401, an antibiotic for the treatment of acute bacterial skin/skin structure infections, community-acquired bacterial pneumonias, and urinary tract infections; ZL-2301 that is Phase II clinical trial for the treatment of hepatocellular carcinoma; ZL-3101, a novel steroid-sparing topical product that is in Phase II clinical trial for the treatment of eczema and psoriasis; ZL-2302 for the treatment of non-small cell lung cancer; and ZL-1101, an anti-OX40 antagonistic antibody for the treatment of graft-versus-host disease or systemic lupus erythematosus.
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