Zai Lab (NASDAQ:ZLAB) Stock Price Down 8.3% – Time to Sell?

Zai Lab Limited (NASDAQ:ZLAB)’s share price was down 8.3% during mid-day trading on Tuesday . The stock traded as low as $28.31 and last traded at $28.52. Approximately 239,078 shares were traded during trading, a decline of 64% from the average daily volume of 664,517 shares. The stock had previously closed at $31.09.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. 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 report on Monday, October 21st.

Zai Lab Stock Performance

The stock has a fifty day simple moving average of $25.78 and a 200-day simple moving average of $20.94.

Insider Buying and Selling at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now owns 43,232 shares of the company’s stock, valued at $720,677.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.88% of the company’s stock.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after buying an additional 904 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Zai Lab in the first quarter valued at $64,000. Daiwa Securities Group Inc. grew its position in shares of Zai Lab by 4,851.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after acquiring an additional 9,364 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 58.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock valued at $231,000 after acquiring an additional 3,514 shares during the period. Finally, Swedbank AB acquired a new position in shares of Zai Lab during the 1st quarter worth about $244,000. Institutional investors own 41.65% of the company’s stock.

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.