Penserra Capital Management LLC Invests $2.43 Million in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Penserra Capital Management LLC bought a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 SEC filing.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Zai Lab in the 4th quarter valued at $1,032,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Zai Lab in the first quarter worth about $603,000. BNP Paribas Financial Markets boosted its holdings in shares of Zai Lab by 1,439.8% in the fourth quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock worth $517,000 after buying an additional 18,472 shares during the period. FMR LLC boosted its stake in Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after purchasing an additional 4,830,646 shares during the period. Finally, US Bancorp DE boosted its stake in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the period. Institutional investors own 41.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on ZLAB shares. JPMorgan Chase & Co. raised their target price on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Leerink Partners set a $75.00 price objective on Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Finally, Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.28.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 50,000 shares of the business's 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 transaction, the chief executive officer directly owned 479,851 shares in the company, valued at $13,709,343.07. The trade was a 9.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Lis sold 13,814 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.67, for a total value of $492,745.38. Following the completion of the sale, the director owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. This trade represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,155 shares of company stock worth $4,959,535 over the last three months. Company insiders own 4.96% of the company's stock.

Zai Lab Price Performance

Shares of ZLAB stock traded down $1.35 during trading on Friday, reaching $32.73. The company had a trading volume of 1,028,642 shares, compared to its average volume of 917,123. The company has a market capitalization of $3.64 billion, a PE ratio of -13.14 and a beta of 0.99. Zai Lab Limited Unsponsored ADR has a one year low of $16.01 and a one year high of $44.34. The firm's 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $31.66.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. The company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. Analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

About Zai Lab

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.