Zai Lab (NASDAQ:ZLAB) Insider Rafael Amado Sells 2,739 Shares

Key Points

• Insider Rafael Amado sold 2,739 shares of Zai Lab on April 6 at an average price of $20.45 for about $56,013 to cover tax withholding from vesting; he now directly owns 57,022 shares (a 4.58% decrease) and had also sold 9,910 shares on April 2 and 2,957 shares on March 13.
• Zai Lab shares traded around $21.39 (50-day MA $18.89, 200-day MA $21.51) with a $2.41 billion market cap and negative earnings metrics, while analysts hold a mixed view — MarketBeat reports a consensus "Moderate Buy" and an average target of $50 amid several lowered and varied price targets.

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) insider Rafael Amado sold 2,739 shares of Zai Lab stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $20.45, for a total transaction of $56,012.55. Following the completion of the transaction, the insider directly owned 57,022 shares in the company, valued at $1,166,099.90. This represents a 4.58% decrease in their position. The sale 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.

Rafael Amado also recently made the following trade(s):

• On Thursday, April 2nd, Rafael Amado sold 9,910 shares of Zai Lab stock. The stock was sold at an average price of $20.39, for a total transaction of $202,064.90.
• On Friday, March 13th, Rafael Amado sold 2,957 shares of Zai Lab stock. The stock was sold at an average price of $18.63, for a total transaction of $55,088.91.

Zai Lab Price Performance

Shares of ZLAB traded up $0.39 during mid-day trading on Wednesday, hitting $21.39. The company's stock had a trading volume of 1,059,583 shares, compared to its average volume of 745,229. The firm has a 50-day moving average price of $18.89 and a 200 day moving average price of $21.51. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -13.29 and a beta of 0.86. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $15.96 and a fifty-two week high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The firm had revenue of $127.60 million during the quarter. As a group, equities analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada increased its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 214.3% in the 1st quarter, according to its most recent filing with the SEC. The fund 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.

Analysts Set New Price Targets

Several research analysts have commented on ZLAB shares. Cantor Fitzgerald decreased their target price on shares of Zai Lab from $55.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Zacks Research cut shares of Zai Lab from a "hold" rating to a "strong sell" rating in a report on Friday, January 23rd. UBS Group initiated coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a "buy" rating and a $35.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Zai Lab in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Zai Lab from $39.00 to $32.00 and set an "overweight" rating for the company in a report on Wednesday, March 18th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Zai Lab Company Profile

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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