Zai Lab Limited (NASDAQ:ZLAB) Insider Joshua L. Smiley Sells 1,988 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $15.52 on Friday. The company has a market capitalization of $1.53 billion, a P/E ratio of -4.50 and a beta of 1.10. Zai Lab Limited has a 1 year low of $15.24 and a 1 year high of $40.42. The business’s 50 day simple moving average is $19.15 and its 200 day simple moving average is $23.55.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The company had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. On average, sell-side analysts anticipate that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Citigroup decreased their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Morgan Stanley began coverage on Zai Lab in a research report on Thursday, December 14th. They issued an “overweight” rating and a $47.50 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $64.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. 1832 Asset Management L.P. bought a new position in shares of Zai Lab in the 4th quarter worth about $28,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after buying an additional 557 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after buying an additional 700 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after buying an additional 548 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after buying an additional 2,424 shares during the period. 41.65% of the stock is owned by institutional investors.

About Zai Lab

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.