Yajing Chen Sells 5,280 Shares of Zai Lab Limited (NASDAQ:ZLAB) Stock

Zai Lab Limited (NASDAQ:ZLAB) CFO Yajing Chen sold 5,280 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $189,499.20. Following the completion of the transaction, the chief financial officer now directly owns 25,471 shares of the company’s stock, valued at $914,154.19. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zai Lab Price Performance

ZLAB stock opened at $31.77 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of -11.47 and a beta of 1.07. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $39.77. The business has a 50-day moving average of $32.72 and a 200-day moving average of $28.77.

Zai Lab (NASDAQ:ZLAB) last released 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). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Equities analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after buying an additional 4,830,646 shares during the last quarter. RTW Investments LP bought a new stake in Zai Lab during the fourth quarter worth about $65,714,000. Janus Henderson Group PLC boosted its position in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after purchasing an additional 2,232,507 shares during the last quarter. Principal Financial Group Inc. bought a new position in Zai Lab in the fourth quarter valued at approximately $46,172,000. Finally, Wellington Management Group LLP increased its position in shares of Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after purchasing an additional 1,312,115 shares during the last quarter. Institutional investors own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of research analyst reports. Scotiabank assumed coverage on Zai Lab in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. Bank of America reissued a “neutral” rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th.

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.