Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells $31,151.96 in Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $15.52 on Monday. The stock’s 50 day simple moving average is $19.15 and its 200-day simple moving average is $23.52. Zai Lab Limited has a 1-year low of $15.24 and a 1-year high of $40.42.

Zai Lab (NASDAQ:ZLAB) last issued 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 company had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. On average, equities analysts expect that Zai Lab Limited will post -3.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup cut their price target on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Finally, Morgan Stanley began coverage on Zai Lab in a report on Thursday, December 14th. They issued an “overweight” rating and a $47.50 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Zai Lab by 177.6% during the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after purchasing an additional 3,413,829 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Zai Lab during the 4th quarter valued at approximately $301,000. Legal & General Group Plc raised its position in shares of Zai Lab by 20.1% during the 4th quarter. Legal & General Group Plc now owns 834,457 shares of the company’s stock valued at $22,818,000 after buying an additional 139,832 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of Zai Lab during the 4th quarter valued at approximately $547,000. Finally, Bellevue Group AG purchased a new stake in shares of Zai Lab during the 4th quarter valued at approximately $3,714,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.