Zai Lab (NASDAQ:ZLAB) Stock Price Down 2.9% – Time to Sell?

Zai Lab Limited (NASDAQ:ZLAB)’s stock price was down 2.9% on Tuesday . The stock traded as low as $31.60 and last traded at $32.04. Approximately 52,291 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 859,190 shares. The stock had previously closed at $32.99.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZLAB. Bank of America reissued a “neutral” rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Scotiabank started coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th.

Zai Lab Price Performance

The firm’s 50-day moving average is $32.06 and its two-hundred day moving average is $29.69. The company has a market cap of $3.54 billion, a P/E ratio of -11.56 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. As a group, sell-side analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction dated 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 directly owns 14,328 shares in the company, valued at $472,537.44. This represents a 50.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares of the company’s stock, valued at approximately $17,032,212.99. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,133 shares of company stock valued at $7,416,861 in the last three months. Company insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Zai Lab in the fourth quarter valued at about $511,000. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after buying an additional 1,502 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Zai Lab during the 4th quarter worth approximately $46,172,000. Alberta Investment Management Corp lifted its position in Zai Lab by 42.9% during the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock valued at $6,084,000 after acquiring an additional 69,740 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Zai Lab by 188.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company’s stock valued at $39,442,000 after acquiring an additional 984,041 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

Zai Lab Company Profile

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.