Zai Lab Limited (NASDAQ:ZLAB) Insider Sells $479,661.12 in Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the transaction, the insider now owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Zai Lab Stock Up 7.2 %

Zai Lab stock traded up $2.27 during midday trading on Tuesday, reaching $34.00. The stock had a trading volume of 1,927,970 shares, compared to its average volume of 914,397. The firm has a market capitalization of $3.72 billion, a PE ratio of -12.27 and a beta of 1.02. Zai Lab Limited has a 12 month low of $13.48 and a 12 month high of $36.60. The firm’s 50-day moving average price is $27.77 and its 200 day moving average price is $26.06.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (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 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%. Equities research analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in Zai Lab in the 4th quarter worth about $29,000. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 last quarter. China Universal Asset Management Co. Ltd. raised its stake in Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock valued at $290,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,790 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ZLAB shares. Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th. 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 research note on Monday.

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.