Zai Lab (NASDAQ:ZLAB) Shares Down 5.4% - Here's Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report)'s stock price fell 5.4% during trading on Friday . The stock traded as low as $34.85 and last traded at $34.95. 236,177 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,060,222 shares. The stock had previously closed at $36.93.

Wall Street Analysts Forecast Growth

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

Zai Lab Stock Performance

The firm has a market capitalization of $3.97 billion, a P/E ratio of -14.46 and a beta of 0.96. The stock has a fifty day moving average price of $32.80 and a two-hundred day moving average price of $30.83.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The company had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. As a group, research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, CEO Ying Du sold 46,389 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $28.09, for a total value of $1,303,067.01. Following the sale, the chief executive officer now directly owns 479,851 shares of the company's stock, valued at $13,479,014.59. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Lis sold 13,814 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the transaction, the director now directly owns 35,106 shares of the company's stock, valued at approximately $1,252,231.02. This trade represents a 28.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,021 shares of company stock valued at $4,257,755 over the last quarter. Insiders own 4.96% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kingsview Wealth Management LLC boosted its position in shares of Zai Lab by 6.0% during the first quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock worth $337,000 after buying an additional 529 shares during the period. GF Fund Management CO. LTD. acquired a new position in Zai Lab during the 4th quarter worth $29,000. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab in the fourth quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after purchasing an additional 1,200 shares during the period. Finally, Walleye Capital LLC increased its holdings in shares of Zai Lab by 6.4% during the first quarter. Walleye Capital LLC now owns 22,276 shares of the company's stock valued at $805,000 after purchasing an additional 1,338 shares during the period. Institutional investors own 41.65% of the company's stock.

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.