Zai Lab (NASDAQ:ZLAB) Sees Large Volume Increase – Time to Buy?

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) saw an uptick in trading volume on Tuesday . 685,219 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 801,185 shares.The stock last traded at $18.51 and had previously closed at $18.48.

Analysts Set New Price Targets

ZLAB has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. decreased 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 note on Wednesday, March 18th. Citigroup dropped their price objective on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wall Street Zen lowered Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Cantor Fitzgerald reduced their target price on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Zai Lab Price Performance

The firm has a market cap of $2.12 billion, a P/E ratio of -11.51 and a beta of 0.78. The company’s 50-day simple moving average is $19.67 and its 200 day simple moving average is $18.99.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. The business had revenue of $99.61 million during the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%. Analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Yajing Chen sold 5,199 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $106,007.61. Following the completion of the sale, the chief financial officer directly owned 32,558 shares of the company’s stock, valued at $663,857.62. This trade represents a 13.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00. Following the completion of the transaction, the chief executive officer owned 1,122,626 shares of the company’s stock, valued at approximately $22,553,556.34. This trade represents a 4.26% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 89,561 shares of company stock worth $1,811,705. Insiders own 4.88% of the company’s stock.

Institutional Trading of Zai Lab

An institutional investor recently raised its stake in Zai Lab stock. SG Americas Securities LLC grew its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,396 shares of the company’s stock after acquiring 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. 41.65% of the stock is 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.