Zai Lab (ZLAB) Upgraded by JPMorgan Chase & Co. to Overweight

Zai Lab (NASDAQ:ZLAB) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $32.00 price objective on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 32.12% from the company’s previous close.

Separately, BidaskClub raised Zai Lab from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st.

Zai Lab (ZLAB) traded up $2.22 on Wednesday, hitting $24.22. The stock had a trading volume of 214,548 shares, compared to its average volume of 84,902. Zai Lab has a 12 month low of $19.80 and a 12 month high of $35.74.

Institutional investors and hedge funds have recently bought and sold shares of the company. FNY Partners Fund LP bought a new stake in shares of Zai Lab in the 3rd quarter worth $137,000. Martin Currie Ltd. bought a new stake in shares of Zai Lab in the 4th quarter worth $178,000. MYDA Advisors LLC bought a new stake in shares of Zai Lab in the 4th quarter worth $255,000. Pinebridge Investments L.P. bought a new stake in shares of Zai Lab in the 3rd quarter worth $945,000. Finally, NINE MASTS CAPITAL Ltd raised its stake in shares of Zai Lab by 28.0% in the 4th quarter. NINE MASTS CAPITAL Ltd now owns 64,000 shares of the company’s stock worth $1,359,000 after buying an additional 14,000 shares in the last quarter. 18.90% of the stock is currently owned by institutional investors.

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Zai Lab Company Profile

Zai Lab Ltd, incorporated on March 28, 2017, is a biopharmaceutical company. The Company is focused on discovering or licensing, developing and commercializing proprietary therapeutics that address areas of large unmet medical need in the China market, including in the fields of oncology, autoimmune and infectious diseases.

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