The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Zai Lab Limited ADR shares valued at $213,346 were sold by Edmondson Frazor Titus III on May 14 ’24. At $21.33 per share, Edmondson Frazor Titus III sold 10,000 shares. The insider’s holdings dropped to 16,408 shares worth approximately $0.31 million following the completion of this transaction.
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Also, Smiley Joshua L purchased 3,000 shares, netting a total of over 64,200 in proceeds. Following the buying of shares at $21.40 each, the insider now holds 31,684 shares.
Before that, Reinhart Harald had sold 2,105 shares from its account. In a trade valued at $32,992, the insider traded Zai Lab Limited ADR shares for $15.67 each. Upon closing the transaction, the insider’s holdings decreased to 2,105 shares, worth approximately $0.99 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 -4.37%. Over the course of the year, Zai Lab Limited ADR shares have dropped approximately -30.26%. 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 $16.97, while a 200-day SMA reached $22.69. Nevertheless, trading volume fell to 0.58 million shares from 0.33 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 18.60, which, if violated, would cause prices to drop to 18.13. In the upper region, resistance lies at 19.50. The next price resistance is at 19.94. RSI (Relative Strength Index) is 53.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 54.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
