Zai Lab (NASDAQ:ZLAB) Reaches New 1-Year Low on Insider Selling

Shares of Zai Lab Limited (NASDAQ:ZLAB) hit a new 52-week low on Wednesday following insider selling activity. The stock traded as low as $15.53 and last traded at $15.62, with a volume of 59184 shares trading hands. The stock had previously closed at $16.04.

Specifically, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,735 shares of company stock valued at $164,114. Company insiders own 5.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ZLAB. Citigroup dropped their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Morgan Stanley began coverage on shares of Zai Lab in a research note on Thursday, December 14th. They set an “overweight” rating and a $47.50 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $64.22.

Zai Lab Price Performance

The company’s 50-day moving average price is $19.29 and its two-hundred day moving average price is $23.62.

Zai Lab (NASDAQ:ZLAB) last released 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 during the quarter, compared to the consensus estimate 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 research analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently modified their holdings of ZLAB. 1832 Asset Management L.P. acquired a new position in shares of Zai Lab in the 4th quarter valued at about $28,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after buying an additional 557 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after buying an additional 700 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Zai Lab by 45.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,767 shares of the company’s stock valued at $48,000 after buying an additional 548 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after buying an additional 2,424 shares during the period. Institutional investors own 41.65% of the company’s stock.

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.