Insider Selling: Zai Lab (NASDAQ:ZLAB) CFO Sells 2,264 Shares

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 2,264 shares of Zai Lab stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the transaction, the chief financial officer owned 35,691 shares of the company’s stock, valued at $623,164.86. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value 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 value of $106,007.61.

Zai Lab Trading Up 2.3%

Shares of ZLAB traded up $0.41 during trading hours on Monday, reaching $18.41. 944,868 shares of the stock traded hands, compared to its average volume of 821,367. Zai Lab Limited Unsponsored ADR has a 52 week low of $15.96 and a 52 week high of $41.20. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -11.36 and a beta of 0.79. The stock has a fifty day simple moving average of $19.40 and a 200 day simple moving average of $18.96.

Zai Lab (NASDAQ:ZLAB) last announced 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 during the quarter. Analysts predict that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Citigroup reduced their price objective on Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, 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. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.83.

Institutional Trading of Zai Lab

A hedge fund recently raised its position in Zai Lab stock. Royal Bank of Canada raised its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,771 shares of the company’s stock after buying 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 quarter. 41.65% of the stock is currently owned by hedge funds and other 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.