Zai Lab (NASDAQ:ZLAB) CFO Yajing Chen Sells 1,703 Shares

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 1,703 shares of the company’s stock in a transaction on 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 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zai Lab Trading Up 3.8%

Shares of ZLAB opened at $19.06 on Tuesday. Zai Lab Limited Unsponsored ADR has a 1-year low of $15.96 and a 1-year high of $44.34. The firm’s 50-day moving average price is $18.67 and its 200-day moving average price is $22.97. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -11.84 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The company had revenue of $127.60 million during the quarter, compared to the consensus estimate of $122.67 million. On average, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC increased 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 Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group assumed coverage on Zai Lab in a research report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Cantor Fitzgerald dropped their price target 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. Zacks Research downgraded 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 research report on Monday, January 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.17.

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.