Key Points
- Zai Lab CEO Ying Du sold 7,026 shares on June 30 at an average price of $18.53, worth about $130,192. The filing says the sale was to cover tax withholding obligations tied to vesting equity awards.
- Du has been actively trimming holdings recently, including sales of 24,543 shares on June 26 and 50,000 shares on May 14. After the latest transaction, Du still owned about 1.2 million shares.
- Zai Lab’s stock and fundamentals remain under pressure, with shares trading near $19.15 and the company posting a recent quarterly loss of $0.50 per share on $99.61 million in revenue. Analysts currently rate the stock a “Moderate Buy,” though several have recently cut targets or downgraded the shares.
Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) CEO Ying Du sold 7,026 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $18.53, for a total value of $130,191.78. Following the sale, the chief executive officer owned 1,203,784 shares in the company, valued at $22,306,117.52. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ying Du also recently made the following trade(s):
- On Friday, June 26th, Ying Du sold 24,543 shares of Zai Lab stock. The shares were sold at an average price of $17.46, for a total value of $428,520.78.
- On Thursday, May 14th, Ying Du sold 50,000 shares of Zai Lab stock. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00.
- On Monday, April 6th, Ying Du sold 2,653 shares of Zai Lab stock. The shares were sold at an average price of $20.45, for a total value of $54,253.85.
- On Thursday, April 2nd, Ying Du sold 5,576 shares of Zai Lab stock. The shares were sold at an average price of $20.39, for a total transaction of $113,694.64.
Zai Lab Price Performance
Shares of ZLAB stock opened at $19.15 on Thursday. The firm's 50-day simple moving average is $19.07 and its 200-day simple moving average is $18.97. Zai Lab Limited Unsponsored ADR has a 1-year low of $15.96 and a 1-year high of $41.20. The firm has a market cap of $2.17 billion, a P/E ratio of -11.82 and a beta of 0.78.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) EPS for the quarter. The company had revenue of $99.61 million for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%. Analysts expect that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Zai Lab
An institutional investor recently raised its stake in Zai Lab stock. SG Americas Securities LLC boosted its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,396 shares of the company's stock after purchasing an additional 642 shares during the period. SG Americas Securities LLC's holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 41.65% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Weiss Ratings upgraded Zai Lab from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, June 26th. Wall Street Zen lowered Zai Lab from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Citigroup reduced their price objective on Zai Lab from $47.00 to $44.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on Zai Lab from $39.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Zai Lab presently has an average rating of "Moderate Buy" and an average target price of $40.00.
Check Out Our Latest Research Report on ZLAB
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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