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 that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zai Lab Price Performance

ZLAB stock opened at $35.91 on Thursday. The company has a 50 day moving average price of $27.92 and a 200 day moving average price of $26.18. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The stock has a market capitalization of $3.93 billion, a PE ratio of -12.96 and a beta of 1.02.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, equities analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Zai Lab during the 4th quarter worth approximately $29,000. Pictet Asset Management Holding SA bought a new position in Zai Lab in the fourth quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Zai Lab by 2.1% during the 4th 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 acquiring an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock valued at $290,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Zai Lab by 4.2% in the 4th 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 period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZLAB. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a report on Tuesday. Bank of America reissued a “neutral” rating and set a $36.10 price objective (up previously 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.