Joshua Smiley Sells 9,614 Shares of Zai Lab (NASDAQ:ZLAB) Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) insider Joshua Smiley sold 9,614 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $196,029.46. Following the completion of the transaction, the insider owned 120,619 shares in the company, valued at $2,459,421.41. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zai Lab Price Performance

Shares of NASDAQ ZLAB remained flat at $20.41 during midday trading on Friday. 707,427 shares of the stock were exchanged, compared to its average volume of 746,471. Zai Lab Limited Unsponsored ADR has a 52 week low of $15.96 and a 52 week high of $44.34. The business’s 50 day moving average is $18.63 and its 200-day moving average is $21.91. The stock has a market capitalization of $2.30 billion, a P/E ratio of -12.68 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $127.60 million during the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC boosted its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,396 shares of the company’s stock after buying an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZLAB. Cantor Fitzgerald dropped their price objective on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. 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 price target on the stock. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.00.

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.