Rafael Amado Sells 7,583 Shares of Zai Lab Limited (NASDAQ:ZLAB) Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zai Lab Trading Up 2.0 %

Shares of Zai Lab stock opened at $25.30 on Friday. The firm has a fifty day simple moving average of $27.98 and a 200-day simple moving average of $23.05. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -9.13 and a beta of 1.00. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $36.60.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ZLAB shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after purchasing an additional 9,107 shares during the last quarter. M&T Bank Corp increased its position in Zai Lab by 9.6% in the 3rd quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock worth $608,000 after buying an additional 2,209 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Zai Lab during the third quarter worth approximately $369,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Zai Lab during the third quarter worth approximately $225,000. Finally, XTX Topco Ltd boosted its position in shares of Zai Lab by 8.0% in the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock valued at $763,000 after acquiring an additional 2,335 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.