Zai Lab (NASDAQ:ZLAB) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Zai Lab (NASDAQ:ZLAB) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently commented on ZLAB. JPMorgan Chase & Co. dropped 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. Wall Street Zen lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 26th. Finally, Citigroup reduced their price objective on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Zai Lab has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $19.75 on Tuesday. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $41.20. The company has a 50 day moving average price of $18.72 and a 200 day moving average price of $19.04. The stock has a market capitalization of $2.25 billion, a P/E ratio of -12.19 and a beta of 0.76.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. The business 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%. Research analysts forecast that Zai Lab will post -2.23 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $39,529.44. Following the completion of the transaction, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at $623,164.86. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $20.09, for a total value of $1,004,500.00. Following the sale, the chief executive officer directly owned 1,122,626 shares in the company, valued at approximately $22,553,556.34. The trade was a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 90,873 shares of company stock worth $1,730,096 over the last 90 days. 4.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Zai Lab

A hedge fund recently raised its position in Zai Lab stock. SG Americas Securities LLC raised its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to its most recent 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 at the end of the most recent quarter. 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.