Zai Lab (NASDAQ:ZLAB) Stock Price Down 4%

Zai Lab Limited (NASDAQ:ZLAB) shares traded down 4% during mid-day trading on Thursday . The company traded as low as $17.78 and last traded at $18.07. 124,601 shares changed hands during trading, a decline of 81% from the average session volume of 640,091 shares. The stock had previously closed at $18.82.

Wall Street Analyst Weigh In

Separately, Citigroup dropped their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.57.

Zai Lab Trading Up 3.2 %

The stock has a fifty day moving average of $17.97 and a 200-day moving average of $20.51.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.38. The company had revenue of $87.15 million during the quarter, compared to analysts’ expectations of $77.07 million. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. During the same quarter in the previous year, the business earned ($0.51) EPS. As a group, equities analysts expect that Zai Lab Limited will post -2.78 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Frazor Titus Edmondson III sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.33, for a total value of $213,300.00. Following the completion of the transaction, the insider now directly owns 16,408 shares of the company’s stock, valued at approximately $349,982.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ying Du sold 5,787 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the transaction, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The disclosure for this sale can be found here. Insiders sold a total of 20,024 shares of company stock valued at $373,828 in the last ninety days. Corporate insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Capital World Investors raised its position in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after acquiring an additional 465,337 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after acquiring an additional 3,413,829 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Zai Lab by 9.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after acquiring an additional 387,729 shares in the last quarter. Bamco Inc. NY raised its position in shares of Zai Lab by 7.3% in the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after acquiring an additional 108,991 shares in the last quarter. Finally, Rock Springs Capital Management LP raised its position in shares of Zai Lab by 1.2% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,237,023 shares of the company’s stock worth $30,072,000 after acquiring an additional 14,600 shares in the last quarter. 41.65% of the stock is owned by institutional investors.

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.