Zai Lab Limited (NASDAQ:ZLAB) Insider Sells $133,014.90 in Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Harald Reinhart sold 7,431 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $133,014.90. Following the sale, the insider now directly owns 62,619 shares in the company, valued at $1,120,880.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zai Lab Stock Performance

Zai Lab stock opened at $17.33 on Friday. The business has a fifty day moving average of $18.36 and a two-hundred day moving average of $20.19. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $32.60.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. The company had revenue of $87.15 million during the quarter, compared to analyst estimates 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 prior year, the business earned ($0.51) earnings per share. On average, equities analysts forecast that Zai Lab Limited will post -2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Zai Lab

Large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its position in shares of Zai Lab by 26.1% during the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock worth $18,571,000 after purchasing an additional 140,461 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Zai Lab in the 4th quarter valued at $253,000. China Universal Asset Management Co. Ltd. increased its position in shares of Zai Lab by 323.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock valued at $159,000 after acquiring an additional 4,431 shares during the period. Bamco Inc. NY increased its position in shares of Zai Lab by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock valued at $38,394,000 after acquiring an additional 67,288 shares during the period. Finally, Wellington Management Group LLP increased 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 valued at $145,845,000 after acquiring an additional 3,413,829 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Tuesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $64.57.

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.