Zai Lab (NASDAQ:ZLAB) Reaches New 1-Year Low – Time to Sell?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.82 and last traded at $16.7250, with a volume of 30526 shares traded. The stock had previously closed at $17.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ZLAB shares. UBS Group assumed coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.30.

Zai Lab Trading Down 3.8%

The firm’s 50-day moving average price is $18.42 and its two-hundred day moving average price is $26.74. The stock has a market cap of $1.86 billion, a PE ratio of -8.51 and a beta of 0.83.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $116.10 million during the quarter, compared to analyst estimates of $150.24 million. Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. On average, analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, insider Rafael Amado sold 10,787 shares of Zai Lab stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the transaction, the insider owned 52,391 shares in the company, valued at $913,175.13. The trade was a 17.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.96% of the stock is owned by company insiders.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada boosted its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,771 shares of the company’s stock after buying an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent reporting period. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

About Zai Lab

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.