Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells 3,000 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. This represents a 8.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rafael Amado also recently made the following trade(s):

• On Tuesday, December 31st, Rafael Amado sold 7,583 shares of Zai Lab stock. The stock was sold at an average price of $26.28, for a total value of $199,281.24.

Zai Lab Stock Down 6.0 %

NASDAQ ZLAB traded down $2.24 on Friday, reaching $35.09. The company had a trading volume of 1,109,977 shares, compared to its average volume of 751,561. Zai Lab Limited has a 52 week low of $13.48 and a 52 week high of $39.61. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -12.67 and a beta of 1.08. The stock's 50 day moving average is $30.70 and its 200-day moving average is $27.75.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The firm 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%. As a group, analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

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Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ZLAB shares. Scotiabank assumed coverage on 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. JPMorgan Chase & Co. upped their target price on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Cantor Fitzgerald raised shares of Zai Lab to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Bank of America restated a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

Hedge Funds Weigh In On Zai Lab

Institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Zai Lab by 26.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company's stock worth $14,584,000 after acquiring an additional 125,532 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Zai Lab during the third quarter worth about $1,666,000. Daiwa Securities Group Inc. lifted its holdings in shares of Zai Lab by 4,851.8% during the 3rd 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. The Manufacturers Life Insurance Company grew its position in shares of Zai Lab by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company's stock valued at $2,923,000 after purchasing an additional 3,860 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in Zai Lab during the 3rd quarter worth approximately $386,000. Institutional investors and hedge funds own 41.65% of the company's stock.

About Zai Lab

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.