Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) CEO Sells $1,723,500.00 in Stock

Zai Lab Limited (NASDAQ:ZLAB) CEO Ying Du sold 50,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares of the company’s stock, valued at $17,032,212.99. This represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ying Du also recently made the following trade(s):

• On Monday, March 3rd, Ying Du sold 50,000 shares of Zai Lab stock. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00.

Zai Lab Stock Performance

ZLAB opened at $35.39 on Friday. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -12.78 and a beta of 1.02. The company has a fifty day moving average of $28.26 and a 200 day moving average of $26.31. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, equities research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current year.

Hedge Funds Weigh In On Zai Lab

Several institutional investors have recently bought and sold shares of ZLAB. FMR LLC grew its stake in Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after acquiring an additional 4,830,646 shares in the last quarter. RTW Investments LP purchased a new position in shares of Zai Lab in the 4th quarter worth $65,714,000. Janus Henderson Group PLC grew its stake in shares of Zai Lab by 34.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after buying an additional 2,232,507 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Zai Lab in the 4th quarter worth $46,172,000. Finally, Wellington Management Group LLP grew its stake in shares of Zai Lab by 18.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after buying an additional 1,312,115 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ZLAB shares. Bank of America reaffirmed a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a report on Monday. Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a report on Tuesday.

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.