Zai Lab Limited (NASDAQ:ZLAB) CEO Sells $1,723,500.00 in Stock

Zai Lab Limited (NASDAQ:ZLAB) CEO Ying Du sold 50,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ying Du also recently made the following trade(s):

• On Monday, March 3rd, Ying Du sold 50,000 shares of Zai Lab stock. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00.

Zai Lab Stock Up 7.2 %

Shares of NASDAQ:ZLAB traded up $2.27 during trading on Tuesday, reaching $34.00. 1,927,970 shares of the company’s stock traded hands, compared to its average volume of 914,397. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The company has a 50-day simple moving average of $27.77 and a 200-day simple moving average of $26.06. The firm has a market cap of $3.72 billion, a PE ratio of -12.27 and a beta of 1.02.

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

Institutional Investors Weigh In On Zai Lab

A number of institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in Zai Lab during the fourth quarter valued at $29,000. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab during the 4th quarter worth about $31,000. Barclays PLC lifted its stake in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock valued at $97,000 after buying an additional 2,856 shares in the last quarter. US Bancorp DE boosted its holdings in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after buying an additional 5,534 shares during the last quarter. Finally, Jasper Ridge Partners L.P. purchased a new stake in Zai Lab during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Analysts Set New Price Targets

ZLAB has been the subject of several recent research reports. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a report on Monday.

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.