Zai Lab (NASDAQ:ZLAB) Sets New 52-Week Low Following Insider Selling

Zai Lab Limited (NASDAQ:ZLAB) reached a new 52-week low on Wednesday following insider selling activity. The company traded as low as $15.53 and last traded at $15.62, with a volume of 59184 shares traded. The stock had previously closed at $16.04.

Specifically, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction 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 transaction, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ying Du sold 5,787 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now directly owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,735 shares of company stock valued at $164,114. Insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ZLAB shares. Morgan Stanley started coverage on Zai Lab in a research report on Thursday, December 14th. They set an “overweight” rating and a $47.50 price target on the stock. Citigroup dropped their price target on Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Zai Lab presently has an average rating of “Buy” and an average price target of $64.22.

Zai Lab Stock Performance

The business has a fifty day moving average of $19.29 and a 200-day moving average of $23.62.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The company had revenue of $65.83 million for the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. As a group, analysts expect that Zai Lab Limited will post -3.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

Institutional investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. bought a new position in Zai Lab in the 4th quarter worth about $28,000. China Universal Asset Management Co. Ltd. increased its stake in Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after acquiring an additional 557 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock worth $48,000 after acquiring an additional 548 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after acquiring an additional 700 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock worth $70,000 after acquiring an additional 2,424 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors.

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.