Zai Lab Limited’s recently made public that its Chief Legal Officer Edmondson Frazor Titus III unloaded Company’s shares for reported $0.32 million on Mar 06. In the deal valued at $40.55 per share,7,965 shares were sold. As a result of this transaction, Edmondson Frazor Titus III now holds 19,400 shares worth roughly $ 0.56 million.
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Then, Reinhart Harald sold 11,480 shares, generating $459,200 in total proceeds. Upon selling the shares at $40.00, the insider now owns 18,958 shares.
Before that, Lis William sold 5,434 shares. Zai Lab Limited shares valued at $208,177 were divested by the Director at a price of $38.31 per share. As a result of the transaction, Lis William now holds 23,330 shares, worth roughly $0.67 million.
Cantor Fitzgerald initiated its Zai Lab Limited [ZLAB] rating to an Overweight in a research note published on Tuesday, August 10, 2023; the price target was $70. PT values the company’s stock at a premium of 59.09 to its Tuesday closing price.
Price Performance Review of ZLAB
On Tuesday, Zai Lab Limited [NASDAQ:ZLAB] saw its stock jump 9.73% to $28.64. On the same session, the stock had its day’s lowest price of $28.06, but rose to a high of $29.64. Over the last five days, the stock has gained 25.56%. Zai Lab Limited shares have fallen nearly -6.71% since the year began. Nevertheless, the stocks have fallen -38.13% over the past one year. While a 52-week high of $53.95 was reached on 01/05/23, a 52-week low of $20.98 was recorded on 08/28/23. SMA at 50 days reached $27.02, while 200 days put it at $33.28. A total of 1.14 million shares were traded, compared to the trading of 0.31 million shares in the previous session.
Levels Of Support And Resistance For ZLAB Stock
The 24-hour chart illustrates a support level at 27.92, which if violated will result in even more drops to 27.20. On the upside, there is a resistance level at 29.50. A further resistance level may holdings at 30.36. The Relative Strength Index (RSI) on the 14-day chart is 60.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.08%. Stochastics %K at 84.09% indicates the stock is a selling.
How much short interest is there in Zai Lab Limited?
A steep rise in short interest was recorded in Zai Lab Limited stocks on Aug 14, 2023, growing by 0.2 million shares to a total of 3.15 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.95 million shares. There was a rise of 6.35%, which implies that there is a positive sentiment for the stock.
Zai Lab Limited [ZLAB] – Who Are The Largest Shareholders?
In filings from Capital Research & Management Co, it is revealed that the company now owns 5,223,568 shares, or roughly 5.31% of the outstanding ZLAB shares. In other words, the investor’s shares have risen by 557,699 from its previous 13-F filing of 4665869.0. Additionally, Janus Henderson Investors US LLC increased 97.04% of its stake after which the total value it holdings stand at $110,823,825, while Invesco Advisers, Inc. reduced -24.70% of its stake to hold $106.39 million in the firm. Over the last quarter, Viking Global Investors LP purchased 298,200 shares of Zai Lab Limited, while T. Rowe Price Associates, Inc. bought 215,729 shares. At present, Wellington Management Co. LLP is holding 2,075,352 shares valued at $62.39 million. Segantii Capital Management Ltd. owned 1,795,479 shares of the company at the time of its most recent 13F filing, worth $53.97 million.
According to FactSet, Zai Lab Limited’s share price will average $67.36 in the next year, based on opinions of analysts polled by the firm. This is up nearly 156.7 percent from its previous closing price of $26.10. Analysts expect Zai Lab Limited stock to reach the higher price of $130.00, while the lowest price estimate is $18.00. However, 13 analysts have rated ZLAB stock as a Buy in their predictions for 2023.