Insider Selling: Zai Lab Limited (NASDAQ:ZLAB) Insider Sells 7,583 Shares of Stock

Zai Lab Limited (NASDAQ:ZLABGet Free Report) insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zai Lab Stock Down 5.3 %

Shares of NASDAQ:ZLAB traded down $1.38 during mid-day trading on Thursday, reaching $24.81. 880,189 shares of the stock were exchanged, compared to its average volume of 706,756. The stock’s 50 day simple moving average is $28.29 and its 200-day simple moving average is $22.99. The company has a market cap of $2.70 billion, a P/E ratio of -8.96 and a beta of 0.99. Zai Lab Limited has a one year low of $13.48 and a one year high of $36.60.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Get Our Latest Stock Analysis on ZLAB

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZLAB. Geode Capital Management LLC lifted its position in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after buying an additional 9,107 shares during the last quarter. M&T Bank Corp boosted its position in Zai Lab by 9.6% during the third quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock worth $608,000 after purchasing an additional 2,209 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Zai Lab in the third quarter valued at $369,000. Y Intercept Hong Kong Ltd bought a new position in shares of Zai Lab in the third quarter valued at about $225,000. Finally, XTX Topco Ltd lifted its stake in shares of Zai Lab by 8.0% during the 3rd quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock worth $763,000 after buying an additional 2,335 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

About Zai Lab

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Zai Lab (NASDAQ:ZLAB)

Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.