Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Short Interest Update

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,890,948 shares, an increase of 28.7% from the February 26th total of 3,800,411 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily volume of 675,085 shares, the days-to-cover ratio is presently 7.2 days.

Zai Lab Stock Up 5.4%

Shares of ZLAB opened at $18.81 on Wednesday. The business has a 50-day simple moving average of $18.56 and a two-hundred day simple moving average of $21.93. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -11.68 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $127.60 million for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. On average, equities analysts anticipate that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Gaynor purchased 1,731 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $18.91 per share, for a total transaction of $32,733.21. Following the purchase, the director directly owned 56,630 shares in the company, valued at approximately $1,070,873.30. This trade represents a 3.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Yajing Chen sold 1,703 shares of Zai Lab stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $18.63, for a total transaction of $31,726.89. Following the completion of the transaction, the chief financial officer directly owned 19,999 shares of the company’s stock, valued at $372,581.37. This trade represents a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 6,626 shares of company stock worth $123,442. 4.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC purchased a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,754 shares of the company’s stock, valued at approximately $331,000. Institutional investors own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price target on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. UBS Group started coverage on Zai Lab in a report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Finally, Cantor Fitzgerald dropped their target price 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. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.