Zai Lab (NASDAQ:ZLAB) CFO Sells $31,726.89 in Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 1,703 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $18.63, for a total value of $31,726.89. Following the completion of the sale, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zai Lab Stock Performance

Shares of ZLAB stock traded up $0.69 on Monday, hitting $19.06. 628,981 shares of the stock traded hands, compared to its average volume of 724,122. Zai Lab Limited Unsponsored ADR has a twelve month low of $15.96 and a twelve month high of $44.34. The firm’s 50-day moving average price is $18.65 and its two-hundred day moving average price is $23.06. The stock has a market capitalization of $2.15 billion, a PE ratio of -11.84 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $127.60 million for the quarter, compared to analyst estimates of $122.67 million. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZLAB. JPMorgan Chase & Co. reduced their price target on shares of Zai Lab from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. Cantor Fitzgerald decreased their price target on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, UBS Group began coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price target for the company. One research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.17.

Institutional Trading of Zai Lab

A hedge fund recently bought a new stake in Zai Lab stock. SG Americas Securities LLC acquired a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,754 shares of the company’s stock, valued at approximately $331,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.