Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) shares traded up 6.9% on Wednesday . The company traded as high as $27.50 and last traded at $27.0580. 173,794 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 860,165 shares. The stock had previously closed at $25.30.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Wall Street Zen lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Citigroup lifted their price objective on shares of Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.
View Our Latest Analysis on ZLAB
Zai Lab Stock Performance
Zai Lab (NASDAQ:ZLAB – Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%.The business had revenue of $106.31 million during the quarter. As a group, analysts expect that Zai Lab Limited Unsponsored ADR will post -2.17 EPS for the current fiscal year.
Insider Transactions at Zai Lab
In other Zai Lab news, CEO Ying Du sold 7,026 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $18.53, for a total transaction of $130,191.78. Following the completion of the transaction, the chief executive officer owned 1,203,784 shares of the company’s stock, valued at $22,306,117.52. The trade was a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Yajing Chen sold 2,264 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $17.46, for a total value of $39,529.44. Following the completion of the sale, the chief financial officer directly owned 35,691 shares in the company, valued at approximately $623,164.86. This represents a 5.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 50,258 shares of company stock worth $960,741. 4.88% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ZLAB. Royal Bank of Canada boosted its position in shares of Zai Lab by 214.3% in the first quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after acquiring an additional 9,390 shares during the period. Headlands Technologies LLC grew its stake in shares of Zai Lab by 142.0% in the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after acquiring an additional 39,901 shares during the last quarter. Finally, Seven Fleet Capital Management LP increased its position in Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock worth $2,584,000 after acquiring an additional 58,158 shares during the period. 41.65% of the stock is owned by institutional investors.
About Zai Lab
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.
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