Zai Lab (NASDAQ:ZLAB) Sees Large Volume Increase – Time to Buy?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) saw strong trading volume on Tuesday . 685,219 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 801,185 shares.The stock last traded at $18.51 and had previously closed at $18.48.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZLAB. JPMorgan Chase & Co. reduced their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Citigroup lowered their price target on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald decreased their price objective on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.83.

Zai Lab Trading Down 0.6%

The stock has a market capitalization of $2.08 billion, a PE ratio of -11.34 and a beta of 0.78. The firm’s fifty day moving average price is $19.57 and its two-hundred day moving average price is $18.97.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share (EPS) for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The firm had revenue of $99.61 million during the quarter. As a group, sell-side analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Rafael Amado sold 9,910 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total transaction of $202,064.90. Following the sale, the insider directly owned 59,761 shares in the company, valued at $1,218,526.79. This trade represents a 14.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $20.09, for a total value of $1,004,500.00. Following the sale, the chief executive officer owned 1,122,626 shares in the company, valued at $22,553,556.34. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,601 shares of company stock valued at $1,939,058 in the last ninety days. Company insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada raised its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. 41.65% of the stock is 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.