Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) CFO Yajing Chen sold 1,703 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $18.63, for a total transaction of $31,726.89. Following the transaction, the chief financial officer owned 19,999 shares in the company, valued at $372,581.37. This represents a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Zai Lab Stock Up 3.8%
Shares of ZLAB stock opened at $19.06 on Tuesday. The company has a 50 day moving average price of $18.67 and a 200-day moving average price of $22.97. Zai Lab Limited Unsponsored ADR has a 52 week low of $15.96 and a 52 week high of $44.34. The firm has a market capitalization of $2.15 billion, a PE ratio of -11.84 and a beta of 0.85.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.02). Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The company had revenue of $127.60 million for the quarter, compared to the consensus estimate of $122.67 million. Analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently weighed in on ZLAB. UBS Group initiated coverage on Zai Lab in a report on Wednesday, January 7th. They set a "buy" rating and a $35.00 price target on the stock. Zacks Research cut Zai Lab from a "hold" rating to a "strong sell" rating in a research report on Friday, January 23rd. Jefferies Financial Group raised Zai Lab to a "strong-buy" rating in a report on Monday, January 19th. JPMorgan Chase & Co. dropped their target price on Zai Lab from $46.00 to $39.00 and set an "overweight" rating on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Zai Lab in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.17.
Get Our Latest Report on ZLAB
Institutional Investors Weigh In On Zai Lab
A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada lifted its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 214.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,771 shares of the company's stock after purchasing an additional 9,390 shares during the period. Royal Bank of Canada's holdings in Zai Lab were worth $498,000 at the end of the most recent reporting period. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
About Zai Lab
(
Get Free Report)
Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company's end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.
The company's marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton's tyrosine kinase inhibitor approved for several B-cell malignancies.
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