Zai Lab (NASDAQ:ZLAB) Shares Gap Down Following Insider Selling

Zai Lab Limited (NASDAQ:ZLAB) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $26.19, but opened at $25.40. Zai Lab shares last traded at $25.22, with a volume of 176,857 shares trading hands.

Specifically, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares of the company’s stock, valued at $889,157.52. The trade was a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st.

Zai Lab Trading Up 2.0 %

The stock’s fifty day moving average is $27.98 and its two-hundred day moving average is $23.05. The company has a market capitalization of $2.77 billion, a PE ratio of -9.13 and a beta of 1.00.

Institutional Trading of Zai Lab

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after buying an additional 2,232,507 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after acquiring an additional 1,312,115 shares in the last quarter. Bamco Inc. NY boosted its holdings in shares of Zai Lab by 6.4% in the third quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock worth $46,023,000 after acquiring an additional 113,869 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after purchasing an additional 125,532 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Zai Lab by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock valued at $3,847,000 after purchasing an additional 3,000 shares during the period. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.