Zai Lab (NASDAQ:ZLAB) CFO Yajing Chen Sells 2,264 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 2,264 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the sale, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at $623,164.86. This trade represents a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was 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 stock was sold at an average price of $20.39, for a total transaction of $106,007.61.

Zai Lab Stock Up 2.3%

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

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The business had revenue of $99.61 million during the quarter. As a group, sell-side analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC grew its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,396 shares of the company’s stock after buying 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.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup dropped their price target on Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.83.

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.