Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells $199,281.24 in Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $25.30 on Friday. The business’s fifty day moving average is $27.98 and its 200 day moving average is $23.05. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -9.13 and a beta of 1.00. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZLAB. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th.

Institutional Investors Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently modified their holdings of ZLAB. Geode Capital Management LLC boosted its position in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after acquiring an additional 9,107 shares during the period. M&T Bank Corp lifted its stake in Zai Lab by 9.6% in the 3rd quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock worth $608,000 after purchasing an additional 2,209 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Zai Lab in the 3rd quarter valued at $369,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Zai Lab during the 3rd quarter valued at $225,000. Finally, XTX Topco Ltd increased its holdings in shares of Zai Lab by 8.0% in the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock worth $763,000 after purchasing an additional 2,335 shares during the period. 41.65% of the stock is currently owned by institutional investors.

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.