Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) CEO Sells 5,787 Shares of Stock

Zai Lab Limited (NASDAQ:ZLABGet Free Report) CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Zai Lab Stock Down 0.9 %

NASDAQ:ZLAB opened at $15.90 on Thursday. The stock has a 50-day simple moving average of $19.44 and a 200-day simple moving average of $23.68. Zai Lab Limited has a 1 year low of $15.53 and a 1 year high of $40.42.

Zai Lab (NASDAQ:ZLABGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The business had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. On average, equities analysts expect that Zai Lab Limited will post -3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ZLAB. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Morgan Stanley began coverage on Zai Lab in a research note on Thursday, December 14th. They set an “overweight” rating and a $47.50 target price for the company. Finally, Citigroup lowered their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $64.22.

Get Our Latest Report on ZLAB

Institutional Trading of Zai Lab

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its holdings in shares of Zai Lab by 312.4% in the 3rd quarter. UBS Group AG now owns 288,981 shares of the company’s stock valued at $7,025,000 after purchasing an additional 218,907 shares during the last quarter. Bamco Inc. NY raised its stake in Zai Lab by 4.5% during the 3rd quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock valued at $38,394,000 after acquiring an additional 67,288 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Zai Lab during the 3rd quarter valued at approximately $1,169,000. XY Capital Ltd purchased a new stake in Zai Lab during the 3rd quarter valued at approximately $3,397,000. Finally, Hsbc Holdings PLC raised its stake in Zai Lab by 251.1% during the 3rd quarter. Hsbc Holdings PLC now owns 327,781 shares of the company’s stock valued at $7,968,000 after acquiring an additional 234,431 shares during the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Company Profile

(Get Free Report)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.

Further Reading

Insider Buying and Selling by Quarter for Zai Lab (NASDAQ:ZLAB)

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