Zai Lab (NASDAQ:ZLAB) Insider Joshua Smiley Sells 1,966 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) insider Joshua Smiley sold 1,966 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $18.63, for a total transaction of $36,626.58. Following the transaction, the insider owned 91,026 shares of the company’s stock, valued at approximately $1,695,814.38. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $19.06 on Tuesday. The company has a market capitalization of $2.15 billion, a PE ratio of -11.84 and a beta of 0.85. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $44.34. The company has a 50-day simple moving average of $18.67 and a 200 day simple moving average of $22.97.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The company had revenue of $127.60 million during the quarter, compared to analysts’ expectations of $122.67 million. As a group, analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Institutional Trading of Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada boosted its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,771 shares of the company’s stock after purchasing 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 (SEC). 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ZLAB shares. UBS Group initiated coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald dropped their price target on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their price target on Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. Finally, Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. One investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.17.

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.