Zai Lab (NASDAQ:ZLAB) Sees Strong Trading Volume – Still a Buy?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) saw unusually-strong trading volume on Friday . Approximately 632,305 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 755,516 shares.The stock last traded at $24.5550 and had previously closed at $23.50.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZLAB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. UBS Group started coverage on Zai Lab in a research note on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price on the stock. Cantor Fitzgerald reduced their price target on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Zai Lab Trading Up 2.9%

The company has a market cap of $2.74 billion, a PE ratio of -15.02 and a beta of 0.86. The business has a 50 day simple moving average of $19.63 and a two-hundred day simple moving average of $21.00.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The business had revenue of $127.60 million for the quarter. On average, equities research analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 9,910 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total transaction of $202,064.90. Following the transaction, the insider owned 59,761 shares of the company’s stock, valued at $1,218,526.79. This represents a 14.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ying Du sold 5,576 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $113,694.64. Following the transaction, the chief executive officer directly owned 1,125,279 shares in the company, valued at approximately $22,944,438.81. This represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,187 shares of company stock worth $930,647. Company insiders own 4.96% of the company’s stock.

Institutional Trading of Zai Lab

A hedge fund recently bought a new stake in Zai Lab stock. SG Americas Securities LLC acquired a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,754 shares of the company’s stock, valued at approximately $331,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.