Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells 14,544 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the transaction, the insider now owns 14,328 shares in the company, valued at $472,537.44. The trade was a 50.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zai Lab Stock Performance

NASDAQ:ZLAB traded up $2.27 during midday trading on Tuesday, reaching $34.00. 1,927,970 shares of the stock traded hands, compared to its average volume of 914,397. The stock has a market capitalization of $3.72 billion, a P/E ratio of -12.27 and a beta of 1.02. The company has a fifty day moving average of $27.77 and a 200 day moving average of $26.06. Zai Lab Limited has a 12 month low of $13.48 and a 12 month high of $36.60.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab in the 4th quarter worth approximately $29,000. Pictet Asset Management Holding SA purchased a new stake in Zai Lab in the fourth quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after acquiring an additional 1,200 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock valued at $290,000 after purchasing an additional 1,502 shares during the period. Finally, Invesco Ltd. increased its position in Zai Lab by 4.2% during the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,790 shares during the period. Institutional investors own 41.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ZLAB shares. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a report on Monday. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th.

About Zai Lab

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.