Zai Lab Limited (NASDAQ:ZLAB) Insider Sells $199,281.24 in Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now directly owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB traded down $1.38 during midday trading on Thursday, reaching $24.81. The company’s stock had a trading volume of 880,189 shares, compared to its average volume of 706,756. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The firm has a 50 day moving average price of $28.29 and a two-hundred day moving average price of $22.99. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -8.96 and a beta of 0.99.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZLAB. M&T Bank Corp increased its stake in Zai Lab by 9.6% in the third quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock valued at $608,000 after purchasing an additional 2,209 shares in the last quarter. XTX Topco Ltd grew its stake in Zai Lab by 8.0% in the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock valued at $763,000 after acquiring an additional 2,335 shares during the period. TD Asset Management Inc increased its holdings in shares of Zai Lab by 1.4% during the second quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock valued at $3,847,000 after acquiring an additional 3,000 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Zai Lab by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company’s stock worth $2,923,000 after purchasing an additional 3,860 shares in the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZLAB shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

Zai Lab Company Profile

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.