Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zai Lab Limited ADR shares valued at $187,127 were sold by Edmondson Frazor Titus III on Mar 15 ’24. At $18.71 per share, Edmondson Frazor Titus III sold 10,000 shares. The insider’s holdings dropped to 20,005 shares worth approximately $0.32 million following the completion of this transaction.
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Also, Amado Rafael sold 2,544 shares, netting a total of over 47,980 in proceeds. Following the sale of shares at $18.86 each, the insider now holds 20,093 shares.
Before that, Smiley Joshua L had added 3,000 shares to its account. In a trade valued at $62,490, the insider bought Zai Lab Limited ADR shares for $20.83 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $0.38 million.
As published in their initiating research note from Morgan Stanley on December 14, 2023, Zai Lab Limited ADR [ZLAB] has been an Overweight and the price target has been revised to $47.50. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in early August. As of January 21, 2022, Macquarie has initiated its “an Outperform” rating for ZLAB. Earlier on October 12, 2021, Bernstein initiated its rating. Their recommendation was “a Mkt perform” for ZLAB stock.
Analyzing ZLAB Stock Performance
During the last five days, there has been a drop of approximately -5.93%. Over the course of the year, Zai Lab Limited ADR shares have dropped approximately -40.76%. Shares of the company reached a 52-week high of $27.87 on 01/04/24 and a 52-week low of $15.69 on 03/27/24. A 50-day SMA is recorded $20.19, while a 200-day SMA reached $24.93. Nevertheless, trading volume fell to 1.04 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for Zai Lab Limited ADR (ZLAB)
According to the 24-hour chart, there is a support level at 15.70, which, if violated, would cause prices to drop to 15.22. In the upper region, resistance lies at 16.66. The next price resistance is at 17.14. RSI (Relative Strength Index) is 33.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.87, which suggests the price will decrease in the coming days. Percent R is at 91.92%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Zai Lab Limited ADR subject to short interest?
Stocks of Zai Lab Limited ADR saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.84 million shares to 4.06 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 4.9 million shares. A decline of -20.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.66 of the overall float, the days-to-cover ratio (short ratio) decline to 5.66.
