Short Interest in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Drops By 19.8%

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 4,248,996 shares, a decline of 19.8% from the December 15th total of 5,300,558 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 875,914 shares, the days-to-cover ratio is presently 4.9 days. Based on an average daily volume of 875,914 shares, the days-to-cover ratio is presently 4.9 days. Currently, 4.0% of the company’s stock are short sold.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total value of $188,017.41. Following the transaction, the insider directly owned 52,391 shares in the company, valued at $913,175.13. This represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada raised its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,771 shares of the company’s stock after buying 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 filing with the SEC. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $18.58 on Monday. The company has a market capitalization of $2.08 billion, a P/E ratio of -9.53 and a beta of 0.83. Zai Lab has a 1 year low of $16.82 and a 1 year high of $44.34. The company’s fifty day moving average is $19.07 and its two-hundred day moving average is $27.89.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The business had revenue of $116.10 million during the quarter, compared to analysts’ expectations of $150.24 million. Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. As a group, equities analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, October 8th. UBS Group began coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.30.

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.