Bank of New York Mellon Corp Buys Shares of 8,230 Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Key Points

• Bank of New York Mellon Corp acquired 8,230 shares of Zai Lab Limited Unsponsored ADR, valued at approximately $297,000, indicating growing institutional interest in the company.
• Zai Lab's shares opened at $38.05, with a market capitalization of $4.23 billion, and a noted one-year price range between $16.01 and $44.34.
• Insider transactions involved substantial sales, with Director William Lis and CEO Ying Du selling a combined total of 63,814 shares over recent months, reflecting significant decreases in their ownership stakes.

Bank of New York Mellon Corp acquired a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,230 shares of the company's stock, valued at approximately $297,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after buying an additional 4,830,646 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Zai Lab by 63.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,884,810 shares of the company's stock valued at $104,257,000 after purchasing an additional 1,121,856 shares during the last quarter. RTW Investments LP bought a new position in Zai Lab during the fourth quarter valued at $65,714,000. Price T Rowe Associates Inc. MD raised its stake in Zai Lab by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock valued at $61,653,000 after acquiring an additional 548,378 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Zai Lab by 46,222.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,132,201 shares of the company's stock worth $77,058,000 after buying an additional 2,127,598 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Stock Down 12.0%

Shares of ZLAB stock traded down $4.64 on Thursday, hitting $34.08. The stock had a trading volume of 1,670,831 shares, compared to its average volume of 1,004,650. The company has a market cap of $3.79 billion, a PE ratio of -13.69 and a beta of 1.03. The business has a 50 day moving average price of $36.48 and a 200 day moving average price of $33.09. Zai Lab Limited Unsponsored ADR has a one year low of $16.01 and a one year high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.05. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. Equities research analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 7,072 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $35.23, for a total value of $249,146.56. Following the sale, the chief executive officer owned 536,962 shares in the company, valued at approximately $18,917,171.26. The trade was a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Yajing Chen sold 2,675 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $96,647.75. Following the transaction, the chief financial officer owned 21,004 shares of the company's stock, valued at $758,874.52. This trade represents a 11.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,155 shares of company stock valued at $4,959,535. 4.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZLAB. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.28.

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.