Insider Selling: Zai Lab (NASDAQ:ZLAB) CFO Sells $39,529.44 in Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 2,264 shares of Zai Lab stock in a transaction on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the completion of the sale, the chief financial officer directly owned 35,691 shares in the company, valued at $623,164.86. This represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Yajing Chen also recently made the following trade(s):

• On Monday, April 6th, Yajing Chen sold 853 shares of Zai Lab stock. The stock was sold at an average price of $20.45, for a total transaction of $17,443.85.
• On Thursday, April 2nd, Yajing Chen sold 5,199 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total transaction of $106,007.61.

Zai Lab Stock Up 0.8%

Shares of NASDAQ ZLAB opened at $19.15 on Thursday. The company’s 50-day simple moving average is $19.07 and its 200-day simple moving average is $18.97. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $41.20. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -11.82 and a beta of 0.78.

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

Institutional Trading of Zai Lab

An institutional investor recently raised its stake 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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,396 shares of the company’s stock after buying 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 SEC filing. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

ZLAB has been the topic of several research reports. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Citigroup dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Finally, Wall Street Zen cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Zai Lab currently has an average rating of “Moderate Buy” and an average price target of $40.00.

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.