Rafael Amado Sells 7,583 Shares of Zai Lab Limited (NASDAQ:ZLAB) Stock

Zai Lab Limited (NASDAQ:ZLAB) insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Zai Lab Trading Down 5.3 %

Shares of ZLAB opened at $24.81 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of -8.96 and a beta of 0.99. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $36.60. The stock has a 50 day simple moving average of $28.12 and a 200-day simple moving average of $23.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zai Lab in the 3rd quarter valued at $225,000. Daiwa Securities Group Inc. boosted its position in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the last quarter. RBF Capital LLC acquired a new stake in shares of Zai Lab during the third quarter worth approximately $241,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Zai Lab during the second quarter worth approximately $270,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Zai Lab

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.