Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) insider Frazor Titus Edmondson III sold 885 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $14,292.75. Following the transaction, the insider now directly owns 22,621 shares in the company, valued at $365,329.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Zai Lab Stock Down 0.9 %
Shares of Zai Lab stock traded down $0.14 during trading on Wednesday, reaching $15.90. 488,451 shares of the stock were exchanged, compared to its average volume of 665,627. The stock's fifty day moving average is $19.44 and its 200 day moving average is $23.68. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -4.61 and a beta of 1.10. Zai Lab Limited has a 1 year low of $15.53 and a 1 year high of $40.42.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The company had revenue of $65.83 million during the quarter, compared to analysts' expectations of $70.41 million. Equities analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current year.
Institutional Trading of Zai Lab
Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Zai Lab by 177.6% during the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company's stock valued at $145,845,000 after purchasing an additional 3,413,829 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Zai Lab by 54.8% during the third quarter. Vanguard Group Inc. now owns 3,553,080 shares of the company's stock valued at $121,515,000 after purchasing an additional 1,258,009 shares during the last quarter. Norges Bank purchased a new position in shares of Zai Lab during the fourth quarter valued at approximately $32,784,000. Invesco Ltd. lifted its holdings in shares of Zai Lab by 13.9% during the first quarter. Invesco Ltd. now owns 8,258,118 shares of the company's stock valued at $363,192,000 after purchasing an additional 1,006,575 shares during the last quarter. Finally, Capital International Investors purchased a new position in shares of Zai Lab during the first quarter valued at approximately $43,068,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ZLAB. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Friday, January 12th. Morgan Stanley began coverage on shares of Zai Lab in a report on Thursday, December 14th. They set an "overweight" rating and a $47.50 target price for the company. Finally, Citigroup dropped their target price on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab currently has a consensus rating of "Buy" and a consensus target price of $64.22.
Read Our Latest Stock Report on ZLAB
Zai Lab Company Profile
(
Get Free Report)
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.
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