Zai Lab (NASDAQ:ZLAB) Trading 6.9% Higher – Time to Buy?

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) traded up 6.9% during trading on Wednesday . The company traded as high as $17.91 and last traded at $17.80. 186,073 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 786,726 shares. The stock had previously closed at $16.65.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZLAB shares. Cantor Fitzgerald dropped their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Wall Street Zen cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup decreased their price target on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings cut shares of Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Zai Lab currently has an average rating of “Moderate Buy” and an average price target of $45.83.

Zai Lab Stock Performance

The firm has a market capitalization of $1.98 billion, a PE ratio of -10.77 and a beta of 0.78. The company’s 50-day moving average price is $20.10 and its 200-day moving average price is $19.13.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Wednesday, April 1st. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The company had revenue of $99.61 million for the quarter. As a group, analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current year.

Insider Activity

In related news, CFO Yajing Chen sold 5,199 shares of Zai Lab stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total transaction of $106,007.61. Following the sale, the chief financial officer directly owned 32,558 shares in the company, valued at $663,857.62. This trade represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Gaynor purchased 1,731 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 96,187 shares of company stock worth $1,935,147 over the last three months. Company insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC lifted its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,396 shares of the company’s stock after buying an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. Institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

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.