Insider Selling: Zai Lab (NASDAQ:ZLAB) CEO Sells 7,026 Shares

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CEO Ying Du sold 7,026 shares of Zai Lab stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $18.53, for a total value of $130,191.78. Following the sale, the chief executive officer directly owned 1,203,784 shares of the company’s stock, valued at approximately $22,306,117.52. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ying Du also recently made the following trade(s):

• On Friday, June 26th, Ying Du sold 24,543 shares of Zai Lab stock. The shares were sold at an average price of $17.46, for a total value of $428,520.78.
• On Thursday, May 14th, Ying Du sold 50,000 shares of Zai Lab stock. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00.
• On Monday, April 6th, Ying Du sold 2,653 shares of Zai Lab stock. The stock was sold at an average price of $20.45, for a total value of $54,253.85.
• On Thursday, April 2nd, Ying Du sold 5,576 shares of Zai Lab stock. The stock was sold at an average price of $20.39, for a total value of $113,694.64.

Zai Lab Trading Up 0.8%

Shares of ZLAB stock traded up $0.15 on Wednesday, reaching $19.15. The company had a trading volume of 686,358 shares, compared to its average volume of 819,753. The stock has a market cap of $2.17 billion, a PE ratio of -11.82 and a beta of 0.78. The company has a 50-day moving average of $19.19 and a 200-day moving average of $18.96. Zai Lab Limited Unsponsored ADR has a 12 month low of $15.96 and a 12 month high of $41.20.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The firm had revenue of $99.61 million for the quarter. Sell-side analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current year.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its stake in Zai Lab stock. SG Americas Securities LLC raised its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. 41.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ZLAB shares. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Citigroup reduced their target price on Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Finally, Wall Street Zen lowered Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Zai Lab has an average rating of “Moderate Buy” and an average price target of $40.00.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.