Zai Lab Limited (NASDAQ:ZLAB) CFO Sells $189,499.20 in Stock

Zai Lab Limited (NASDAQ:ZLAB) CFO Yajing Chen sold 5,280 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total value of $189,499.20. Following the sale, the chief financial officer now directly owns 25,471 shares of the company’s stock, valued at $914,154.19. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $31.77 on Friday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -11.47 and a beta of 1.07. The firm has a 50 day simple moving average of $32.72 and a 200-day simple moving average of $28.83. Zai Lab Limited has a one year low of $13.48 and a one year high of $39.77.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Equities analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ZLAB. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Scotiabank began coverage on Zai Lab in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently modified their holdings of ZLAB. Principal Financial Group Inc. acquired a new position in shares of Zai Lab during the fourth quarter worth $46,172,000. Geode Capital Management LLC lifted its holdings in Zai Lab by 26.4% during the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock worth $1,053,000 after buying an additional 9,107 shares during the last quarter. Alberta Investment Management Corp boosted its position in shares of Zai Lab by 42.9% during the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock worth $6,084,000 after acquiring an additional 69,740 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Zai Lab by 28.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock valued at $4,801,000 after acquiring an additional 41,128 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Zai Lab during the 4th quarter worth about $1,032,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

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.