Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Zai Lab Limited ADR shares valued at $32,992 were sold by Reinhart Harald on Apr 04 ’24. At $15.67 per share, Reinhart Harald sold 2,105 shares. The insider’s holdings dropped to 51,800 shares worth approximately $0.74 million following the completion of this transaction.
Also, Smiley Joshua L sold 1,988 shares, netting a total of over 31,158 in proceeds. Following the sale of shares at $15.67 each, the insider now holds 28,684 shares.
Before that, Amado Rafael had sold 1,952 shares from its account. In a trade valued at $30,594, the insider traded Zai Lab Limited ADR shares for $15.67 each. Upon closing the transaction, the insider’s holdings decreased to 1,952 shares, worth approximately $0.33 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 -5.26%. Over the course of the year, Zai Lab Limited ADR shares have dropped approximately -47.97%. Shares of the company reached a 52-week high of $27.87 on 01/04/24 and a 52-week low of $13.48 on 04/18/24. A 50-day SMA is recorded $17.96, while a 200-day SMA reached $24.04. Nevertheless, trading volume fell to 0.69 million shares from 0.4 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 13.72, which, if violated, would cause prices to drop to 13.23. In the upper region, resistance lies at 14.47. The next price resistance is at 14.73. RSI (Relative Strength Index) is 33.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 77.23%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
