Zai Lab (NASDAQ:ZLAB) Shares Gap Down After Insider Selling

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $20.59, but opened at $19.52. Zai Lab shares last traded at $19.26, with a volume of 150,986 shares traded.

Specifically, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $20.09, for a total transaction of $1,004,500.00. Following the sale, the chief executive officer owned 1,122,626 shares of the company’s stock, valued at $22,553,556.34. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZLAB. Citigroup lowered their price objective on Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings lowered Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Cantor Fitzgerald cut their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen downgraded shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Zai Lab Trading Down 7.1%

The business’s fifty day moving average price is $20.34 and its two-hundred day moving average price is $19.78. The firm has a market cap of $2.17 billion, a P/E ratio of -11.85 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Wednesday, April 1st. The company reported ($0.50) EPS for the quarter. The firm had revenue of $99.61 million during the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. Research analysts predict that Zai Lab Limited Unsponsored ADR will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC boosted its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,396 shares of the company’s stock after acquiring 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.

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.