Zai Lab (NASDAQ:ZLAB) Insider Rafael Amado Sells 10,787 Shares

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) insider Rafael Amado sold 10,787 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the sale, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. This trade represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zai Lab Stock Performance

Shares of ZLAB stock traded down $0.31 on Friday, hitting $17.33. 757,088 shares of the stock traded hands, compared to its average volume of 816,555. Zai Lab Limited Unsponsored ADR has a twelve month low of $16.82 and a twelve month high of $44.34. The firm’s 50-day moving average price is $20.55 and its two-hundred day moving average price is $29.38. The stock has a market capitalization of $1.94 billion, a PE ratio of -8.89 and a beta of 0.87.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Zai Lab had a negative return on equity of 25.83% and a negative net margin of 46.83%.The firm had revenue of $116.10 million for the quarter, compared to analysts’ expectations of $150.24 million. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Zai Lab in the third quarter valued at approximately $331,000. Royal Bank of Canada grew its stake in shares of Zai Lab by 214.3% in the first quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after buying an additional 9,390 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Zai Lab in the first quarter valued at $1,073,000. Cubist Systematic Strategies LLC raised its holdings in shares of Zai Lab by 29.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 93,645 shares of the company’s stock valued at $3,384,000 after buying an additional 21,026 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Zai Lab by 219.6% during the 1st quarter. Raymond James Financial Inc. now owns 125,967 shares of the company’s stock worth $4,552,000 after acquiring an additional 86,547 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zai Lab currently has an average rating of “Moderate Buy” and a consensus price target of $56.35.

About Zai Lab

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.