Zai Lab Limited (NASDAQ:ZLAB) Insider Frazor Titus Edmondson III Sells 14,544 Shares

Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares in the company, valued at $472,537.44. The trade was a 50.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zai Lab Stock Up 2.9 %

Shares of Zai Lab stock traded up $1.03 during mid-day trading on Friday, reaching $36.42. 1,312,257 shares of the stock traded hands, compared to its average volume of 750,101. The business has a 50-day moving average of $28.46 and a 200 day moving average of $26.45. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $37.99. The stock has a market capitalization of $3.99 billion, a PE ratio of -13.15 and a beta of 1.08.

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

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Institutional Investors Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $31,000. Barclays PLC increased its holdings in shares of Zai Lab by 337.6% in the fourth 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 last quarter. Finally, Jasper Ridge Partners L.P. acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank assumed coverage on Zai Lab in a research report on Friday. They set a "sector outperform" rating and a $55.00 price target on the stock. Cantor Fitzgerald upgraded Zai Lab to a "strong-buy" rating in a research report on Tuesday. Finally, Bank of America reiterated a "neutral" rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.

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.