Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Sees Large Growth in Short Interest

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 4,890,948 shares, a growth of 28.7% from the February 26th total of 3,800,411 shares. Approximately 4.6% of the shares of the stock are short sold. Based on an average daily volume of 675,085 shares, the short-interest ratio is currently 7.2 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZLAB shares. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Cantor Fitzgerald reduced their price objective on Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. decreased their price objective on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. UBS Group assumed coverage on Zai Lab in a research note on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Buying and Selling

In related news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the transaction, the insider owned 52,391 shares of the company’s stock, valued at approximately $913,175.13. The trade was a 17.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Yajing Chen sold 1,703 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $18.63, for a total transaction of $31,726.89. Following the completion of the sale, the chief financial officer owned 19,999 shares in the company, valued at $372,581.37. This represents a 7.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,413 shares of company stock worth $311,460 in the last 90 days. 4.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC acquired a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,754 shares of the company’s stock, valued at approximately $331,000. Institutional investors own 41.65% of the company’s stock.

Zai Lab Price Performance

Shares of ZLAB stock opened at $18.00 on Monday. The business has a 50-day moving average of $18.57 and a 200 day moving average of $22.13. Zai Lab has a 1-year low of $15.96 and a 1-year high of $44.34. The stock has a market capitalization of $2.03 billion, a PE ratio of -11.18 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The company had revenue of $127.60 million for the quarter. Analysts anticipate that Zai Lab will post -2.58 EPS for the current year.

Zai Lab Company Profile

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.