Zai Lab (NASDAQ:ZLAB) Reaches New 52-Week Low After Insider Selling

Zai Lab Limited (NASDAQ:ZLABGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $17.12 and last traded at $17.26, with a volume of 105672 shares traded. The stock had previously closed at $18.27.

Specifically, CEO Ying Du sold 8,380 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $26.12, for a total transaction of $218,885.60. Following the completion of the sale, the chief executive officer now owns 1,133,450 shares in the company, valued at approximately $29,605,714. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ying Du sold 8,380 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $26.12, for a total value of $218,885.60. Following the completion of the sale, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at approximately $29,605,714. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,287 shares of company stock worth $776,112. 5.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. JPMorgan Chase & Co. increased their target price on Zai Lab from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, November 30th. Citigroup dropped their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Morgan Stanley assumed coverage on Zai Lab in a report on Thursday, December 14th. They issued an “overweight” rating and a $47.50 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $64.22.

View Our Latest Research Report on ZLAB

Zai Lab Trading Down 5.8 %

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -4.99 and a beta of 1.13. The company has a 50 day moving average price of $20.94 and a 200 day moving average price of $24.40.

Zai Lab (NASDAQ:ZLABGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The business had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. Equities analysts predict that Zai Lab Limited will post -3.1 earnings per share for the current year.

Institutional Trading of Zai Lab

Hedge funds and other institutional investors have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in shares of Zai Lab in the 4th quarter valued at about $28,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zai Lab by 68.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after buying an additional 557 shares during the period. BNP Paribas Financial Markets lifted its stake in Zai Lab by 45.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock worth $48,000 after purchasing an additional 548 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Zai Lab by 58.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock worth $70,000 after buying an additional 2,424 shares in the last quarter. Institutional investors and hedge funds own 43.65% of the company’s stock.

Zai Lab Company Profile

(Get Free Report)

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.

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