Zai Lab Limited (NASDAQ:ZLAB) Insider Frazor Titus Edmondson III Sells 1,874 Shares

Zai Lab Limited (NASDAQ:ZLAB) insider Frazor Titus Edmondson III sold 1,874 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $62,048.14. Following the sale, the insider now owns 30,375 shares in the company, valued at approximately $1,005,716.25. The trade was a 5.81 % 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.

Frazor Titus Edmondson III also recently made the following trade(s):

• On Wednesday, April 2nd, Frazor Titus Edmondson III sold 4,369 shares of Zai Lab stock. The shares were sold at an average price of $35.89, for a total value of $156,803.41.
• On Friday, February 28th, Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock. The stock was sold at an average price of $32.98, for a total value of $479,661.12.

Zai Lab Trading Down 9.3 %

NASDAQ:ZLAB opened at $28.81 on Tuesday. The firm has a fifty day simple moving average of $32.76 and a 200 day simple moving average of $28.93. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $39.77. The stock has a market capitalization of $3.16 billion, a PE ratio of -10.40 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. On average, equities analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in Zai Lab during the 4th quarter worth $46,172,000. Raymond James Financial Inc. acquired a new position in Zai Lab during the fourth quarter valued at approximately $1,032,000. Alberta Investment Management Corp lifted its stake in Zai Lab by 42.9% during the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock worth $6,084,000 after purchasing an additional 69,740 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Zai Lab by 26.4% in the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after purchasing an additional 9,107 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Zai Lab by 28.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock valued at $4,801,000 after purchasing an additional 41,128 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target on the stock. Bank of America restated 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Thursday, March 27th.

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.