Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Short Interest Update

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 4,890,948 shares, an increase of 28.7% from the February 26th total of 3,800,411 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average trading volume of 675,085 shares, the days-to-cover ratio is presently 7.2 days.

Analyst Upgrades and Downgrades

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

Zai Lab Price Performance

NASDAQ ZLAB opened at $18.00 on Monday. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -11.18 and a beta of 0.85. Zai Lab has a 1-year low of $15.96 and a 1-year high of $44.34. The business’s fifty day moving average price is $18.57 and its 200-day moving average price is $22.13.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The firm had revenue of $127.60 million for the quarter. Equities research analysts anticipate that Zai Lab will post -2.58 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, Director Richard Gaynor bought 1,731 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $18.91 per share, with a total value of $32,733.21. Following the completion of the purchase, the director owned 56,630 shares of the company’s stock, valued at approximately $1,070,873.30. This trade represents a 3.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rafael Amado sold 10,787 shares of Zai Lab stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the transaction, the insider owned 52,391 shares of the company’s stock, valued at $913,175.13. The trade was a 17.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 17,413 shares of company stock valued at $311,460. Insiders own 4.96% 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 raised its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 41.65% of the stock is owned by institutional investors and hedge funds.

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.