William Lis Sells 7,040 Shares of Zai Lab (NASDAQ:ZLAB) Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Director William Lis sold 7,040 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $18.09, for a total transaction of $127,353.60. Following the completion of the sale, the director owned 50,437 shares in the company, valued at $912,405.33. The trade was a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB opened at $18.52 on Friday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -11.43 and a beta of 0.78. Zai Lab Limited Unsponsored ADR has a 1-year low of $15.96 and a 1-year high of $41.20. The company has a 50 day moving average price of $19.50 and a 200 day moving average price of $18.96.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The company had revenue of $99.61 million during the quarter. On average, sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZLAB. JPMorgan Chase & Co. reduced their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Weiss Ratings downgraded Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Cantor Fitzgerald reduced their price objective on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Citigroup decreased their target price on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.83.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Zai Lab stock. Royal Bank of Canada boosted its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,771 shares of the company’s stock after buying an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the Securities and Exchange Commission. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.