Zai Lab (NASDAQ:ZLAB) Stock Price Down 6.1% – Here’s Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) shares dropped 6.1% on Friday . The company traded as low as $17.40 and last traded at $17.3880. Approximately 243,226 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 806,034 shares. The stock had previously closed at $18.52.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Citigroup lowered their target price on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.83.

Zai Lab Stock Performance

The firm has a market capitalization of $2.04 billion, a P/E ratio of -11.11 and a beta of 0.78. The stock has a fifty day moving average price of $19.40 and a two-hundred day moving average price of $18.96.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. The company had revenue of $99.61 million for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. As a group, research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 9,614 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total value of $196,029.46. Following the completion of the transaction, the insider directly owned 120,619 shares in the company, valued at $2,459,421.41. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $20.09, for a total transaction of $1,004,500.00. Following the transaction, the chief executive officer owned 1,122,626 shares in the company, valued at approximately $22,553,556.34. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 96,601 shares of company stock valued at $1,939,058 in the last three months. Insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC lifted its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. 41.65% of the stock is currently owned by 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.