Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) shares shot up 6.9% during mid-day trading on Wednesday . The stock traded as high as $17.91 and last traded at $17.80. 186,073 shares were traded during trading, a decline of 76% from the average session volume of 786,726 shares. The stock had previously closed at $16.65.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. reduced their price objective on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Citigroup reduced their price objective on Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, 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 report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.83.
Zai Lab Stock Performance
Zai Lab (NASDAQ:ZLAB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The company had revenue of $99.61 million during the quarter. Research analysts expect that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Yajing Chen sold 5,199 shares of Zai Lab stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $106,007.61. Following the transaction, the chief financial officer directly owned 32,558 shares in the company, valued at approximately $663,857.62. This trade represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $20.09, for a total value of $1,004,500.00. Following the completion of the transaction, the chief executive officer owned 1,122,626 shares in the company, valued at $22,553,556.34. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 89,561 shares of company stock worth $1,811,705. Insiders own 4.88% of the company’s stock.
Institutional Trading of Zai Lab
An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Free Report) by 214.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent SEC filing. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
Read More
- Five stocks we like better than Zai Lab
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.
