Acadian Asset Management LLC Acquires Shares of 29,693 Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Acadian Asset Management LLC invested approximately $1.07 million in Zai Lab Limited Unsponsored ADR by acquiring 29,693 shares, marking a significant new position for the firm.
• Multiple hedge funds are increasing their stakes in Zai Lab, including Kingsview Wealth Management, which boosted its position by 6.0%, indicating growing institutional interest in the company.
• Zai Lab shares have shown volatility, with a 12-month low of $20.17 and a high of $44.34, along with an average trading volume of about 791,592 shares.

Acadian Asset Management LLC purchased a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 29,693 shares of the company's stock, valued at approximately $1,073,000.

Several other institutional investors also recently bought and sold shares of the business. MPM Bioimpact LLC raised its holdings in Zai Lab by 4.2% in the 1st quarter. MPM Bioimpact LLC now owns 833,659 shares of the company's stock valued at $30,128,000 after acquiring an additional 33,659 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Zai Lab during the 1st quarter worth $12,649,000. Cubist Systematic Strategies LLC increased its holdings in shares of Zai Lab by 29.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 93,645 shares of the company's stock worth $3,384,000 after buying an additional 21,026 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company's stock worth $498,000 after buying an additional 9,390 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in shares of Zai Lab during the 1st quarter worth $3,903,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Price Performance

NASDAQ ZLAB traded down $0.35 during trading hours on Friday, hitting $32.65. The company had a trading volume of 2,054,984 shares, compared to its average volume of 865,526. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $20.17 and a fifty-two week high of $44.34. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -16.00 and a beta of 1.04. The firm's 50 day moving average is $34.58 and its 200 day moving average is $33.93.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZLAB shares. Jefferies Financial Group started coverage on Zai Lab in a report on Monday, August 25th. They set a "buy" rating and a $52.00 price objective for the company. Leerink Partners set a $75.00 price objective on Zai Lab and gave the stock an "outperform" rating in a report on Monday, June 30th. Citigroup restated a "buy" rating and set a $69.00 price objective (up from $66.00) on shares of Zai Lab in a report on Monday, August 11th. Finally, Wall Street Zen downgraded Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.35.

Insider Activity

In other news, insider Joshua L. Smiley acquired 10,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was bought at an average cost of $28.91 per share, with a total value of $289,100.00. Following the transaction, the insider directly owned 86,604 shares in the company, valued at approximately $2,503,721.64. This represents a 13.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Yajing Chen sold 4,096 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $34.01, for a total transaction of $139,304.96. Following the completion of the transaction, the chief financial officer directly owned 16,908 shares of the company's stock, valued at approximately $575,041.08. The trade was a 19.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,896 shares of company stock valued at $7,096,938. Corporate insiders own 4.96% of the company's stock.

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.