Zai Lab (NASDAQ:ZLAB) Shares Gap Down Following Insider Selling

Zai Lab Limited (NASDAQ:ZLAB)’s share price gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $26.19, but opened at $25.40. Zai Lab shares last traded at $25.22, with a volume of 176,857 shares changing hands.

Specifically, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several research analysts have weighed in on ZLAB shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Zai Lab Stock Performance

The firm has a market capitalization of $2.77 billion, a P/E ratio of -9.13 and a beta of 1.00. The firm’s 50-day moving average is $27.98 and its 200 day moving average is $23.05.

Institutional Trading of Zai Lab

Several hedge funds and other institutional investors have recently modified their holdings of ZLAB. Y Intercept Hong Kong Ltd bought a new stake in shares of Zai Lab in the third quarter worth $225,000. Daiwa Securities Group Inc. lifted its position in Zai Lab by 4,851.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the last quarter. RBF Capital LLC bought a new position in shares of Zai Lab in the 3rd quarter valued at about $241,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Zai Lab in the second quarter valued at about $270,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.