Yajing Chen Sells 5,280 Shares of Zai Lab Limited (NASDAQ:ZLAB) Stock

Zai Lab Limited (NASDAQ:ZLAB) CFO Yajing Chen sold 5,280 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total value of $189,499.20. Following the transaction, the chief financial officer now directly owns 25,471 shares of the company’s stock, valued at approximately $914,154.19. This trade represents a 17.17 % 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 Stock Up 0.7 %

Shares of Zai Lab stock traded up $0.26 during trading on Thursday, hitting $36.69. 1,224,785 shares of the company were exchanged, compared to its average volume of 772,741. The firm has a 50 day moving average price of $32.39 and a 200 day moving average price of $28.64. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -13.25 and a beta of 1.07. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $39.77.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. acquired a new stake in Zai Lab during the fourth quarter worth approximately $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab during the 4th quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock worth $1,496,000 after purchasing an additional 1,200 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock valued at $290,000 after purchasing an additional 1,502 shares during the period. Finally, Invesco Ltd. increased its stake in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,790 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Scotiabank started coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. Bank of America reissued a “neutral” rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Thursday, March 27th.

Zai Lab Company Profile

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.