Zai Lab (NASDAQ:ZLAB) Stock Price Down 5.2% – Time to Sell?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s share price dropped 5.2% during trading on Wednesday . The company traded as low as $23.15 and last traded at $23.1760. Approximately 307,419 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 772,444 shares. The stock had previously closed at $24.44.

Analyst Ratings Changes

Several research analysts recently commented on ZLAB shares. UBS Group started coverage on shares of Zai Lab in a report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. Cantor Fitzgerald reduced their price objective on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Zai Lab Stock Down 6.0%

The firm’s 50 day moving average price is $19.87 and its two-hundred day moving average price is $20.78. The firm has a market capitalization of $2.60 billion, a PE ratio of -14.22 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Saturday, February 14th. The company reported ($0.50) EPS for the quarter. The firm had revenue of $127.60 million during the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%. On average, sell-side analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.03 earnings per share for the current fiscal year.

Insider Activity at Zai Lab

In other news, CEO Ying Du sold 2,653 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $20.45, for a total transaction of $54,253.85. Following the completion of the transaction, the chief executive officer directly owned 1,122,626 shares in the company, valued at approximately $22,957,701.70. This represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard Gaynor purchased 1,731 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average cost of $18.91 per share, with a total value of $32,733.21. Following the transaction, the director directly owned 56,630 shares of the company’s stock, valued at approximately $1,070,873.30. This represents a 3.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 46,187 shares of company stock worth $930,647 over the last ninety days. Company insiders own 4.96% of the company’s stock.

Institutional Trading of Zai Lab

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC acquired a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,754 shares of the company’s stock, valued at approximately $331,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.