Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) insider Rafael Amado sold 7,583 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Zai Lab Stock Performance
NASDAQ ZLAB traded down $1.38 during trading hours on Thursday, reaching $24.81. 983,817 shares of the company's stock were exchanged, compared to its average volume of 706,756. Zai Lab Limited has a one year low of $13.48 and a one year high of $36.60. The company's 50-day moving average is $28.29 and its two-hundred day moving average is $22.99. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -8.96 and a beta of 0.99.
Hedge Funds Weigh In On Zai Lab
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Zai Lab during the 3rd quarter worth approximately $225,000. Daiwa Securities Group Inc. grew its position in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company's stock valued at $231,000 after purchasing an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock valued at $231,000 after purchasing an additional 3,514 shares in the last quarter. RBF Capital LLC acquired a new stake in Zai Lab in the 3rd quarter valued at $241,000. Finally, Point72 Asset Management L.P. bought a new stake in Zai Lab during the 3rd quarter worth about $325,000. 41.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have weighed in on ZLAB. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st.
Read Our Latest Analysis on Zai Lab
About Zai Lab
(
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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.
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