Zai Lab Limited (NASDAQ:ZLAB) CFO Yajing Chen Sells 924 Shares

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) CFO Yajing Chen sold 924 shares of the 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 sale, the chief financial officer now directly owns 27,047 shares in the company, valued at approximately $895,526.17. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

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

Zai Lab Stock Performance

NASDAQ ZLAB traded up $5.22 on Friday, reaching $29.54. The stock had a trading volume of 3,044,626 shares, compared to its average volume of 822,235. The stock has a market cap of $3.24 billion, a P/E ratio of -10.66 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. The business's 50-day moving average price is $32.74 and its 200 day moving average price is $29.07.

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

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Institutional Investors Weigh In On Zai Lab

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Zai Lab in the 4th quarter valued at about $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab in the 4th quarter valued at approximately $31,000. Barclays PLC grew its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares during the last quarter. US Bancorp DE increased its holdings in shares of Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after purchasing an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. purchased a new stake in shares of Zai Lab during the fourth quarter worth approximately $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ZLAB shares. JPMorgan Chase & Co. lifted their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. 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 report on Monday, March 3rd. Scotiabank assumed coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th.

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.