Zai Lab (NASDAQ:ZLAB) Insider Sells 6,641 Shares

Key Points

• Insider Trading: Zai Lab insider Joshua Smiley sold 6,641 shares at an average price of $36.24, totaling approximately $240,669.84, reducing his ownership in the company by nearly 8%.
• Stock Performance: Zai Lab's stock decreased by 0.7% to $35.44, with a market cap of $3.94 billion and a PE ratio of -17.37.
• Analyst Ratings: The consensus among analysts gives Zai Lab a "Moderate Buy" rating with an average price target of $57.22, despite some recent ratings being downgraded.

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) insider Joshua L. Smiley sold 6,641 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $36.24, for a total value of $240,669.84. Following the transaction, the insider owned 76,604 shares in the company, valued at $2,776,128.96. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zai Lab Price Performance

NASDAQ ZLAB traded up $1.05 during trading on Friday, hitting $35.04. 456,200 shares of the company's stock traded hands, compared to its average volume of 653,977. The stock has a fifty day moving average of $36.08 and a two-hundred day moving average of $33.85. Zai Lab Limited Unsponsored ADR has a 12-month low of $17.50 and a 12-month high of $44.34. The firm has a market cap of $3.89 billion, a P/E ratio of -17.18 and a beta of 1.03.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.37). Zai Lab had a negative return on equity of 27.32% and a negative net margin of 49.68%.The company had revenue of $109.98 million during the quarter, compared to analyst estimates of $125.66 million. Zai Lab has set its FY 2025 guidance at EPS. As a group, analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Institutional Trading of Zai Lab

A number of hedge funds and other institutional investors have recently bought and sold shares of ZLAB. Geode Capital Management LLC increased its holdings in Zai Lab by 27.3% in the 4th quarter. Geode Capital Management LLC now owns 55,520 shares of the company's stock valued at $1,454,000 after acquiring an additional 11,894 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Zai Lab by 8,090.8% during the fourth quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock worth $1,073,000 after buying an additional 40,454 shares during the period. Envestnet Asset Management Inc. bought a new position in Zai Lab during the 4th quarter valued at about $976,000. Bank of Montreal Can boosted its position in shares of Zai Lab by 21.5% during the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after buying an additional 2,993 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after buying an additional 1,790 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZLAB. Citigroup reiterated a "buy" rating and issued a $69.00 price target (up previously from $66.00) on shares of Zai Lab in a report on Monday, August 11th. Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Leerink Partners set a $75.00 target price on Zai Lab and gave the stock an "outperform" rating in a report on Monday, June 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Zai Lab currently has an average rating of "Moderate Buy" and a consensus price target of $57.22.

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.