Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) CEO Sells 50,000 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares of the company’s stock, valued at $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, February 28th, Ying Du sold 50,000 shares of Zai Lab stock. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $34.00 on Wednesday. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The stock has a market cap of $3.72 billion, a PE ratio of -12.27 and a beta of 1.02. The firm has a 50-day moving average of $27.77 and a 200-day moving average of $26.06.

Zai Lab (NASDAQ:ZLAB) last announced its 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). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Equities research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Institutional Trading of Zai Lab

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after buying an additional 2,232,507 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after acquiring an additional 1,312,115 shares in the last quarter. FMR LLC increased its stake in Zai Lab by 749.1% in the fourth quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after acquiring an additional 4,830,646 shares during the last quarter. RTW Investments LP acquired a new position in Zai Lab during the fourth quarter valued at approximately $65,714,000. Finally, Price T Rowe Associates Inc. MD raised its position in Zai Lab by 30.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after purchasing an additional 548,378 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ZLAB. Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (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.