Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) insider Rafael Amado sold 2,739 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $20.45, for a total transaction of $56,012.55. Following the transaction, the insider directly owned 57,022 shares in the company, valued at $1,166,099.90. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rafael Amado also recently made the following trade(s):
- On Thursday, April 2nd, Rafael Amado sold 9,910 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total transaction of $202,064.90.
- On Friday, March 13th, Rafael Amado sold 2,957 shares of Zai Lab stock. The shares were sold at an average price of $18.63, for a total transaction of $55,088.91.
Zai Lab Trading Up 1.9%
ZLAB stock traded up $0.39 during trading on Wednesday, reaching $21.39. 1,059,583 shares of the stock were exchanged, compared to its average volume of 745,229. The stock has a 50 day simple moving average of $18.89 and a 200-day simple moving average of $21.51. The company has a market capitalization of $2.41 billion, a P/E ratio of -13.29 and a beta of 0.86. Zai Lab Limited Unsponsored ADR has a twelve month low of $15.96 and a twelve month high of $44.34.
Institutional Investors Weigh In On Zai Lab
A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada raised its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Free Report) by 214.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the Securities and Exchange Commission. 41.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ZLAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. UBS Group started coverage on shares of Zai Lab in a report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Cantor Fitzgerald lowered their target price on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.
View Our Latest Stock Analysis on Zai Lab
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.
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