Zai Lab (NASDAQ:ZLAB) Shares Gap Down on Insider Selling

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLABGet Free Report) gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $20.59, but opened at $19.52. Zai Lab shares last traded at $19.26, with a volume of 150,986 shares.

Specifically, CEO Ying Du sold 50,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00. Following the sale, the chief executive officer owned 1,122,626 shares in the company, valued at $22,553,556.34. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZLAB. Zacks Research cut Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Cantor Fitzgerald cut their price objective on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Weiss Ratings lowered Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Zai Lab presently has an average rating of “Moderate Buy” and an average price target of $45.83.

View Our Latest Analysis on Zai Lab

Zai Lab Stock Down 7.1%

The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -11.85 and a beta of 0.85. The stock has a 50 day moving average of $20.34 and a 200 day moving average of $19.78.

Zai Lab (NASDAQ:ZLABGet Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The firm had revenue of $99.61 million for the quarter. As a group, sell-side analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada grew its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLABFree Report) by 214.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

(Get Free Report)

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.

Further Reading

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