Richard Gaynor Acquires 1,731 Shares of Zai Lab (NASDAQ:ZLAB) Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Director Richard Gaynor acquired 1,731 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $18.91 per share, with a total value of $32,733.21. Following the acquisition, the director owned 56,630 shares in the company, valued at $1,070,873.30. This trade represents a 3.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zai Lab Stock Down 2.8%

Shares of Zai Lab stock opened at $18.09 on Friday. The stock’s fifty day moving average is $18.68 and its two-hundred day moving average is $22.71. 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 market capitalization of $2.04 billion, a PE ratio of -11.24 and a beta of 0.85.

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 the consensus estimate of ($0.44) by ($0.02). The business had revenue of $127.60 million for the quarter, compared to the consensus estimate of $122.67 million. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%. As a group, research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC grew its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ZLAB. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. dropped their price objective on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.00.

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.