Insider Selling: Zai Lab (NASDAQ:ZLAB) CEO Sells 2,653 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CEO Ying Du sold 2,653 shares of Zai Lab stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $20.45, for a total transaction of $54,253.85. Following the sale, the chief executive officer owned 1,122,626 shares of the company’s stock, valued at approximately $22,957,701.70. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ying Du also recently made the following trade(s):

• On Thursday, April 2nd, Ying Du sold 5,576 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total transaction of $113,694.64.

Zai Lab Stock Performance

Shares of ZLAB traded up $0.39 during trading hours on Wednesday, hitting $21.39. The stock had a trading volume of 1,059,583 shares, compared to its average volume of 745,229. The firm has a 50-day moving average price of $18.89 and a 200 day moving average price of $21.51. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $15.96 and a fifty-two week high of $44.34. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -13.29 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share (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 during the quarter. As a group, analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ZLAB. Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Cantor Fitzgerald cut their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. Finally, UBS Group began coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zai Lab has an average rating of “Moderate Buy” and an average price target of $50.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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. Hedge funds and other 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.