Penserra Capital Management LLC bought a new position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 67,159 shares of the company's stock, valued at approximately $2,427,000. Penserra Capital Management LLC owned approximately 0.06% of Zai Lab as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in Zai Lab in the first quarter worth $297,000. Principal Financial Group Inc. lifted its stake in Zai Lab by 63.6% in the first quarter. Principal Financial Group Inc. now owns 2,884,810 shares of the company's stock worth $104,257,000 after purchasing an additional 1,121,856 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Zai Lab by 46,222.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,132,201 shares of the company's stock worth $77,058,000 after purchasing an additional 2,127,598 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Zai Lab in the first quarter worth $603,000. Finally, Palumbo Wealth Management LLC bought a new stake in Zai Lab in the first quarter worth $203,000. 41.65% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CFO Yajing Chen sold 9,618 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $30.00, for a total value of $288,540.00. Following the completion of the transaction, the chief financial officer directly owned 17,429 shares of the company's stock, valued at $522,870. This represents a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $28.57, for a total transaction of $1,428,500.00. Following the completion of the transaction, the chief executive officer directly owned 479,851 shares of the company's stock, valued at approximately $13,709,343.07. The trade was a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,155 shares of company stock valued at $4,959,535 over the last three months. Corporate insiders own 4.96% of the company's stock.
Analysts Set New Price Targets
ZLAB has been the subject of several recent research reports. Leerink Partners set a $75.00 price target on shares of Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. upped their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.28.
Check Out Our Latest Research Report on ZLAB
Zai Lab Trading Down 2.5%
Shares of NASDAQ:ZLAB opened at $35.48 on Tuesday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -14.25 and a beta of 0.99. The company has a 50-day moving average price of $33.86 and a 200-day moving average price of $31.52. Zai Lab Limited Unsponsored ADR has a 12 month low of $16.01 and a 12 month high of $44.34.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The company had revenue of $106.49 million during the quarter, compared to the consensus estimate of $118.40 million. As a group, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.
Zai Lab Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ZLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report).

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