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 $5,121 were sold by Chen Yajing on Nov 04 ’24. At $30.66 per share, Chen Yajing sold 167 shares. The insider’s holdings dropped to 15,494 shares worth approximately $0.41 million following the completion of this transaction.
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Also, Chen Yajing purchased 167 shares, netting a total of over 5,121 in proceeds.
Before that, Chen Yajing had sold 301 shares from its account. In a trade valued at $7,645, the Chief Financial Officer traded Zai Lab Limited ADR shares for $25.40 each. Upon closing the transaction, the insider’s holdings decreased to 301 shares, worth approximately $0.4 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 -12.42%. Over the course of the year, Zai Lab Limited ADR shares have dropped approximately -4.02%. Shares of the company reached a 52-week high of $36.60 on 10/24/24 and a 52-week low of $13.48 on 04/18/24. A 50-day SMA is recorded $26.38, while a 200-day SMA reached $20.21. Nevertheless, trading volume fell to 1.58 million shares from 1.28 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 25.65, which, if violated, would cause prices to drop to 25.07. In the upper region, resistance lies at 26.79. The next price resistance is at 27.35. RSI (Relative Strength Index) is 42.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.10, which suggests the price will decrease in the coming days. Percent R is at 81.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
