Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) CFO Sells 924 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) CFO Yajing Chen sold 924 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $30,593.64. Following the completion of the transaction, the chief financial officer now directly owns 27,047 shares in the company, valued at approximately $895,526.17. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, April 2nd, Yajing Chen sold 5,280 shares of Zai Lab stock. The shares were sold at an average price of $35.89, for a total value of $189,499.20.

Zai Lab Stock Down 10.1 %

Zai Lab stock opened at $24.32 on Friday. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $39.77. The company has a 50 day moving average of $32.68 and a 200-day moving average of $29.01. The stock has a market capitalization of $2.67 billion, a PE ratio of -8.78 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock. Finally, 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 research report on Monday, March 3rd.

Hedge Funds Weigh In On Zai Lab

A number of large investors have recently bought and sold shares of ZLAB. Wellington Management Group LLP raised its holdings in shares of Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after purchasing an additional 1,312,115 shares during the last quarter. FMR LLC grew its position in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after acquiring an additional 4,830,646 shares during the period. RTW Investments LP acquired a new position in Zai Lab during the fourth quarter worth approximately $65,714,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Zai Lab by 30.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after purchasing an additional 548,378 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Zai Lab by 113.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock worth $48,788,000 after purchasing an additional 989,664 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.