Zai Lab (NASDAQ:ZLAB) Insider Sells $196,029.46 in Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) insider Joshua Smiley sold 9,614 shares of Zai Lab stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total transaction of $196,029.46. Following the sale, the insider owned 120,619 shares of the company’s stock, valued at approximately $2,459,421.41. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $20.41 on Monday. The firm’s 50 day moving average price is $18.67 and its two-hundred day moving average price is $21.68. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $44.34. The stock has a market cap of $2.30 billion, a PE ratio of -12.68 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The company had revenue of $127.60 million during the quarter. As a group, sell-side analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ZLAB shares. Cantor Fitzgerald cut their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. Finally, UBS Group assumed coverage on Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

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 Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting 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.