Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells 4,369 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Frazor Titus Edmondson III sold 4,369 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $156,803.41. Following the completion of the sale, the insider now directly owns 27,217 shares of the company’s stock, valued at $976,818.13. This trade represents a 13.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Frazor Titus Edmondson III also recently made the following trade(s):

• On Friday, February 28th, Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12.

Zai Lab Price Performance

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

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, February 27th. The company reported ($0.80) 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 the consensus estimate of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, sell-side analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. bought a new stake in Zai Lab during the 4th quarter valued at approximately $29,000. Public Employees Retirement System of Ohio boosted its position in shares of Zai Lab by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock valued at $484,000 after purchasing an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Zai Lab by 2.1% in 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 worth $1,496,000 after purchasing an additional 1,200 shares during the period. Woodline Partners LP raised its holdings in Zai Lab by 9.4% in the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock worth $46,089,000 after purchasing an additional 151,835 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new position in Zai Lab during the fourth quarter valued at $7,857,000. Institutional investors own 41.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America reiterated a “neutral” rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. Scotiabank assumed coverage on Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price 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 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.