Frazor Titus Edmondson III Sells 4,369 Shares of Zai Lab Limited (NASDAQ:ZLAB) Stock

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) insider Frazor Titus Edmondson III sold 4,369 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total value of $156,803.41. Following the transaction, the insider now owns 27,217 shares in the company, valued at approximately $976,818.13. This represents a 13.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Frazor Titus Edmondson III also recently made the following trade(s):

• On Friday, April 4th, Frazor Titus Edmondson III sold 1,874 shares of Zai Lab stock. The stock was sold at an average price of $33.11, for a total value of $62,048.14.
• On Friday, February 28th, Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12.

Zai Lab Stock Down 6.0 %

ZLAB stock traded down $1.74 during mid-day trading on Tuesday, hitting $27.07. 2,122,402 shares of the company were exchanged, compared to its average volume of 791,899. The business has a fifty day simple moving average of $32.76 and a 200-day simple moving average of $28.96. The firm has a market capitalization of $2.97 billion, a P/E ratio of -9.77 and a beta of 1.09. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $39.77.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock. Finally, Bank of America reissued a "neutral" rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Institutional Investors Weigh In On Zai Lab

Several institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Zai Lab during the 4th quarter valued at about $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after purchasing an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Zai Lab by 4.2% during the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after buying an additional 1,790 shares during the period. Hedge funds and other institutional investors 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.