Zai Lab (NASDAQ:ZLAB) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Zai Lab (NASDAQ:ZLAB) from a hold rating to a sell rating in a research report released on Saturday morning.

ZLAB has been the subject of a number of other reports. Weiss Ratings lowered shares of Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced 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. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Cantor Fitzgerald cut their price objective on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.83.

Zai Lab Stock Up 1.3%

Shares of ZLAB opened at $20.59 on Friday. Zai Lab has a 52-week low of $15.96 and a 52-week high of $44.34. The firm has a 50-day moving average price of $20.34 and a 200 day moving average price of $19.82. The firm has a market capitalization of $2.34 billion, a PE ratio of -12.71 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The business had revenue of $99.61 million for the quarter. On average, equities analysts expect that Zai Lab will post -2.22 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,122,626 shares of the company’s stock, valued at $22,553,556.34. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joshua L. Smiley sold 9,614 shares of Zai Lab stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total value of $196,029.46. Following the completion of the transaction, the insider directly owned 120,619 shares of the company’s stock, valued at $2,459,421.41. This represents a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 96,187 shares of company stock valued at $1,935,147 in the last ninety days. Insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC increased its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 as of its most recent SEC filing. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.