OLD Mission Capital LLC Invests $3.90 Million in Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• OLD Mission Capital LLC purchased 107,997 shares of Zai Lab Limited Unsponsored ADR, valued at approximately $3.9 million, increasing its stake to 0.10% of the company.
• Analysts have set a consensus target price of $56.35 for Zai Lab, with several firms maintaining a "buy" rating, while Wall Street Zen downgraded it to "hold."
• Insider transactions revealed a decrease in stock ownership for CFO Yajing Chen and insider Joshua L. Smiley, highlighting a trend of insiders selling shares amid company stock activity.

OLD Mission Capital LLC bought a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 107,997 shares of the company's stock, valued at approximately $3,903,000. OLD Mission Capital LLC owned approximately 0.10% of Zai Lab as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ZLAB. Oppenheimer Asset Management Inc. purchased a new stake in shares of Zai Lab during the 1st quarter worth $603,000. BNP Paribas Financial Markets grew its stake in Zai Lab by 1,439.8% in the fourth quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock valued at $517,000 after purchasing an additional 18,472 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Zai Lab in the fourth quarter valued at about $976,000. Northern Trust Corp grew its stake in Zai Lab by 117.8% in the fourth quarter. Northern Trust Corp now owns 49,365 shares of the company's stock valued at $1,293,000 after purchasing an additional 26,700 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in Zai Lab in the first quarter valued at about $420,000. 41.65% of the stock is owned by institutional investors.

Zai Lab Stock Performance

ZLAB stock traded up $0.88 on Monday, hitting $33.10. 378,288 shares of the company's stock were exchanged, compared to its average volume of 538,751. Zai Lab Limited Unsponsored ADR has a 12-month low of $18.60 and a 12-month high of $44.34. The firm has a 50 day moving average price of $35.63 and a two-hundred day moving average price of $34.07. The stock has a market cap of $3.70 billion, a P/E ratio of -16.23 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). The business had revenue of $109.98 million for the quarter, compared to the consensus estimate of $125.66 million. Zai Lab had a negative return on equity of 27.32% and a negative net margin of 49.68%. Zai Lab has set its FY 2025 guidance at EPS. Sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ZLAB shares. Leerink Partners set a $75.00 target price on Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Jefferies Financial Group started coverage on Zai Lab in a research note on Monday, August 25th. They issued a "buy" rating and a $52.00 target price on the stock. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Citigroup reiterated a "buy" rating and issued a $69.00 target price (up previously from $66.00) on shares of Zai Lab in a research note on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Zai Lab presently has an average rating of "Moderate Buy" and an average price target of $56.35.

Insider Transactions at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 1,438 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $35.42, for a total transaction of $50,933.96. Following the sale, the chief financial officer owned 16,720 shares in the company, valued at approximately $592,222.40. The trade was a 7.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 46,387 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $35.47, for a total value of $1,645,346.89. Following the sale, the chief executive officer owned 536,962 shares in the company, valued at approximately $19,046,042.14. The trade was a 7.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,710 shares of company stock worth $7,589,684 in the last 90 days. 4.96% of the stock is owned by company insiders.

Zai Lab Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.