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 $7,645 were purchased by Chen Yajing on Oct 02 ’24. At $25.40 per share, Chen Yajing acquired 301 shares.
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Also, Reinhart Harald purchased 60,000 shares, netting a total of over 1,320,000 in proceeds.
Before that, Reinhart Harald had added 70,000 shares to its account. In a trade valued at $1,481,095, the Former Officer bought Zai Lab Limited ADR shares for $21.16 each.
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 surge of approximately 25.91%. Over the course of the year, Zai Lab Limited ADR shares have dropped approximately -6.29%. 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 $19.45, while a 200-day SMA reached $19.65. Nevertheless, trading volume fell to 1.22 million shares from 0.73 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 24.88, which, if violated, would cause prices to drop to 24.14. In the upper region, resistance lies at 26.33. The next price resistance is at 27.04. RSI (Relative Strength Index) is 73.93 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.76, which suggests the price will increase in the coming days. Percent R is at 11.40%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
