Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) CEO Sells 7,013 Shares of Stock

Zai Lab Limited (NASDAQ:ZLAB) CEO Ying Du sold 7,013 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $17.48, for a total value of $122,587.24. Following the completion of the transaction, the chief executive officer now owns 1,081,910 shares in the company, valued at $18,911,786.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, June 26th, Ying Du sold 23,939 shares of Zai Lab stock. The shares were sold at an average price of $17.90, for a total value of $428,508.10.

Zai Lab Price Performance

Shares of NASDAQ ZLAB opened at $17.22 on Thursday. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $32.60. The business’s 50 day moving average is $18.48 and its two-hundred day moving average is $19.88.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results 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 for 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 previous year, the company earned ($0.51) earnings per share. Sell-side analysts expect that Zai Lab Limited will post -2.78 EPS for the current fiscal year.

Institutional Trading of Zai Lab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZLAB. Wellington Management Group LLP raised its position in Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after purchasing an additional 3,413,829 shares during the period. Capital World Investors increased its position in shares of Zai Lab by 8.9% during the first 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 during the period. M&G Plc purchased a new stake in shares of Zai Lab during the first quarter worth $7,266,000. Janus Henderson Group PLC increased its position in shares of Zai Lab by 9.6% during the first 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 during the period. Finally, Brilliance Asset Management Ltd. increased its position in shares of Zai Lab by 177.5% during the fourth quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock worth $11,914,000 after acquiring an additional 278,841 shares during the period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.