ADAR1 Capital Management LLC Sells 104,979 Shares of Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• ADAR1 Capital Management LLC has reduced its stake in Zai Lab Limited by 10%, now holding approximately 0.85% of the company, valued at $34 million.
• Zai Lab's shares recently opened at $33.10, with a market cap of $3.70 billion and analysts expecting an EPS of -2.58 for the current fiscal year.
• Several institutional investors have increased their stakes in Zai Lab, with 41.65% of the stock now owned by institutional investors and hedge funds.

ADAR1 Capital Management LLC trimmed its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 10.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 940,858 shares of the company's stock after selling 104,979 shares during the quarter. Zai Lab accounts for 6.3% of ADAR1 Capital Management LLC's portfolio, making the stock its 4th biggest holding. ADAR1 Capital Management LLC owned about 0.85% of Zai Lab worth $34,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new position in Zai Lab in the 1st quarter worth about $603,000. BNP Paribas Financial Markets increased its holdings in shares of Zai Lab by 1,439.8% in the 4th quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock worth $517,000 after purchasing an additional 18,472 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Zai Lab by 117.8% during 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 in the last quarter. Cerity Partners LLC purchased a new stake in shares of Zai Lab during the first quarter valued at $420,000. Finally, Bank of New York Mellon Corp purchased a new position in Zai Lab in the 1st quarter worth about $297,000. 41.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 6,641 shares of Zai Lab stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $36.24, for a total transaction of $240,669.84. Following the completion of the transaction, the insider owned 76,604 shares in the company, valued at approximately $2,776,128.96. This trade represents a 7.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ying Du sold 50,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $34.74, for a total value of $1,737,000.00. Following the completion of the sale, the chief executive officer owned 536,962 shares in the company, valued at $18,654,059.88. The trade was a 8.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,710 shares of company stock worth $7,589,684 in the last quarter. 4.96% of the stock is currently owned by corporate insiders.

Zai Lab Stock Performance

ZLAB stock traded up $0.76 during trading on Friday, reaching $30.76. 925,957 shares of the company traded hands, compared to its average volume of 489,351. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -15.08 and a beta of 1.04. The business has a 50 day simple moving average of $35.22 and a 200 day simple moving average of $34.07. Zai Lab Limited Unsponsored ADR has a 12 month low of $19.16 and a 12 month high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, hitting the consensus estimate of ($0.37). Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. The firm had revenue of $109.98 million during the quarter, compared to analyst estimates of $125.66 million. Zai Lab has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

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

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.