Zai Lab (NASDAQ:ZLAB) Trading 6.9% Higher – Time to Buy?

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) traded up 6.9% during mid-day trading on Wednesday . The stock traded as high as $27.50 and last traded at $27.0580. Approximately 173,794 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 860,165 shares. The stock had previously closed at $25.30.

Analyst Ratings Changes

Several brokerages recently commented on ZLAB. Zacks Research upgraded Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Citigroup boosted their price target on Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Zai Lab Price Performance

The firm has a market cap of $2.97 billion, a P/E ratio of -15.28 and a beta of 0.83. The company has a fifty day moving average of $21.58 and a 200-day moving average of $20.22.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. The business had revenue of $106.31 million during the quarter. On average, sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.17 EPS for the current fiscal year.

Insider Activity at Zai Lab

In related news, CFO Yajing Chen sold 2,264 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $39,529.44. Following the sale, the chief financial officer directly owned 35,691 shares in the company, valued at approximately $623,164.86. The trade was a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 8,506 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total transaction of $212,650.00. Following the completion of the sale, the director directly owned 41,931 shares in the company, valued at approximately $1,048,275. The trade was a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 50,258 shares of company stock worth $960,741. Company insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Zai Lab by 214.3% in the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock worth $498,000 after buying an additional 9,390 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Zai Lab by 142.0% during the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after buying an additional 39,901 shares during the last quarter. Finally, Seven Fleet Capital Management LP grew its stake in shares of Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after buying an additional 58,158 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors.

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.