Zai Lab (NASDAQ:ZLAB) Director Purchases $32,733.21 in Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Director Richard Gaynor purchased 1,731 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average cost of $18.91 per share, for a total transaction of $32,733.21. Following the completion of the purchase, the director directly owned 56,630 shares in the company, valued at $1,070,873.30. This represents a 3.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Zai Lab Trading Down 1.2%

NASDAQ:ZLAB traded down $0.22 during trading hours on Thursday, hitting $18.61. 811,433 shares of the stock were exchanged, compared to its average volume of 720,857. The firm’s fifty day moving average price is $18.69 and its 200 day moving average price is $22.84. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $44.34. The company has a market cap of $2.10 billion, a P/E ratio of -11.56 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). The firm had revenue of $127.60 million during the quarter, compared to analysts’ expectations of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Equities analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZLAB. Zacks Research cut shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. UBS Group initiated coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.