Zai Lab (NASDAQ:ZLAB) CFO Yajing Chen Sells 2,264 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 2,264 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $39,529.44. Following the sale, the chief financial officer directly owned 35,691 shares in the company, valued at $623,164.86. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Yajing Chen also recently made the following trade(s):

• On Monday, April 6th, Yajing Chen sold 853 shares of Zai Lab stock. The shares were sold at an average price of $20.45, for a total transaction of $17,443.85.
• On Thursday, April 2nd, Yajing Chen sold 5,199 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total transaction of $106,007.61.

Zai Lab Stock Performance

Zai Lab stock opened at $18.41 on Tuesday. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $15.96 and a fifty-two week high of $41.20. The stock has a market cap of $2.09 billion, a P/E ratio of -11.36 and a beta of 0.79. The firm’s fifty day moving average price is $19.30 and its 200-day moving average price is $18.95.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZLAB. JPMorgan Chase & Co. cut 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. Wall Street Zen lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, Citigroup lowered their price objective on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Zai Lab currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake 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 first quarter, according to its most recent disclosure 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 period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent reporting period. Institutional investors own 41.65% of the company’s stock.

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.