Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume – Here’s What Happened

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) saw strong trading volume on Monday . Approximately 553,897 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 814,806 shares.The stock last traded at $20.12 and had previously closed at $20.49.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Citigroup lowered their price objective on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Zai Lab Stock Down 1.6%

The firm has a market cap of $2.20 billion, a P/E ratio of -11.91 and a beta of 0.76. The firm’s fifty day moving average is $18.60 and its two-hundred day moving average is $19.09.

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

Insider Activity

In related news, CFO Yajing Chen sold 2,264 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $17.46, for a total value of $39,529.44. Following the completion of the transaction, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at $623,164.86. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 7,040 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $18.09, for a total transaction of $127,353.60. Following the completion of the sale, the director owned 50,437 shares of the company’s stock, valued at $912,405.33. This trade represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 90,873 shares of company stock valued at $1,730,096. Corporate 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 boosted its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and 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 at the end of the most recent quarter. 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.