Zai Lab Ltd (NASDAQ:ZLAB) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,644,700 shares, an increase of 5.7% from the May 30th total of 1,555,800 shares. Based on an average daily volume of 229,000 shares, the short-interest ratio is presently 7.2 days. Approximately 3.0% of the company’s shares are sold short.
A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Zai Lab by 20.3% in the 4th quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after acquiring an additional 1,103 shares in the last quarter. Barclays PLC purchased a new stake in Zai Lab in the 4th quarter worth about $65,000. California Public Employees Retirement System lifted its stake in Zai Lab by 15.7% in the 4th quarter. California Public Employees Retirement System now owns 32,273 shares of the company’s stock worth $749,000 after acquiring an additional 4,372 shares in the last quarter. RBF Capital LLC purchased a new stake in Zai Lab in the 4th quarter worth about $348,000. Finally, Clearbridge Investments LLC lifted its stake in Zai Lab by 31.9% in the 1st quarter. Clearbridge Investments LLC now owns 92,813 shares of the company’s stock worth $2,739,000 after acquiring an additional 22,447 shares in the last quarter. 36.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Zai Lab stock opened at $36.24 on Wednesday. The business has a 50-day simple moving average of $32.35. The stock has a market cap of $2.11 billion, a P/E ratio of -13.73 and a beta of 1.36. Zai Lab has a 1 year low of $14.29 and a 1 year high of $36.78.
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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