Zai Lab (NASDAQ:ZLAB) CFO Yajing Chen Sells 853 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) CFO Yajing Chen sold 853 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $20.45, for a total value of $17,443.85. Following the transaction, the chief financial officer directly owned 31,705 shares in the company, valued at approximately $648,367.25. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Yajing Chen also recently made the following trade(s):

• On Thursday, April 2nd, Yajing Chen sold 5,199 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total value of $106,007.61.
• On Friday, March 13th, Yajing Chen sold 1,703 shares of Zai Lab stock. The shares were sold at an average price of $18.63, for a total value of $31,726.89.

Zai Lab Stock Performance

ZLAB opened at $21.39 on Thursday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -13.29 and a beta of 0.86. The stock’s 50 day moving average price is $18.89 and its 200-day moving average price is $21.51. Zai Lab Limited Unsponsored ADR has a one year low of $15.96 and a one year high of $44.34.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Saturday, February 14th. The company reported ($0.50) EPS for the quarter. The business had revenue of $127.60 million for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. As a group, analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. UBS Group assumed coverage on Zai Lab in a report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Cantor Fitzgerald lowered their price target on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Institutional Trading of Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.