Insider Buying: Zai Lab (NASDAQ:ZLAB) Director Buys 1,228 Shares of Stock

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Director Richard Gaynor bought 1,228 shares of the stock in a transaction on Tuesday, November 10th. The shares were bought at an average cost of $27.19 per share, for a total transaction of $33,389.32. Following the purchase, the director owned 81,965 shares in the company, valued at $2,228,628.35. This trade represents a 1.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zai Lab Stock Performance

Shares of ZLAB stock traded down $1.44 during midday trading on Friday, reaching $24.60. 1,224,327 shares of the company were exchanged, compared to its average volume of 900,098. Zai Lab Limited Unsponsored ADR has a 12 month low of $15.96 and a 12 month high of $29.02. The company has a market cap of $3.08 billion, a P/E ratio of -13.74 and a beta of 0.77. The company’s 50 day moving average price is $24.66 and its two-hundred day moving average price is $21.22.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.18. The company had revenue of $108.21 million during the quarter, compared to analyst estimates of $107.90 million. Zai Lab had a negative net margin of 44.91% and a negative return on equity of 31.15%. As a group, sell-side analysts predict that Zai Lab Limited Unsponsored ADR will post -2.19 earnings per share for the current year.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of research analyst reports. Citigroup upped their target price on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Tuesday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research note on Tuesday, October 27th. Finally, Wall Street Zen raised Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently made changes to their positions in the business. Nantahala Capital Management LLC grew its stake in shares of Zai Lab by 65.0% in the 3rd quarter. Nantahala Capital Management LLC now owns 330,000 shares of the company’s stock worth $8,692,000 after purchasing an additional 130,000 shares during the last quarter. Nan Fung Trinity HK Ltd. raised its holdings in shares of Zai Lab by 106.9% in the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 293,966 shares of the company’s stock worth $7,743,000 after purchasing an additional 151,883 shares in the last quarter. Alps Advisors Inc. lifted its stake in Zai Lab by 34.9% during the third quarter. Alps Advisors Inc. now owns 148,993 shares of the company’s stock valued at $3,924,000 after purchasing an additional 38,562 shares during the last quarter. Seven Fleet Capital Management LP lifted its stake in Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after purchasing an additional 58,158 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in Zai Lab by 142.0% during the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after purchasing an additional 39,901 shares during the last quarter. Institutional investors own 41.65% of the company’s stock.

About Zai Lab

Zai Lab is a biopharmaceutical company that discovers, develops and commercializes medicines for patients with serious diseases. Its research and development programs focus on oncology, immunology, neuroscience and infectious diseases. Founded in 2014 by biopharmaceutical executive Samantha Du, the company is headquartered in Shanghai and operates in China and the United States. It advances its own drug candidates and works with international partners to develop and bring therapies to market. Zai Lab’s portfolio includes medicines and development programs for cancers and other conditions, including therapies introduced through licensing and collaboration agreements.