Alberta Investment Management Corp Lowers Stock Holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Key Points

• Alberta Investment Management Corp has reduced its ownership in Zai Lab Limited by 15.5%, selling 36,031 shares and now holding approximately 196,262 shares valued at $7.09 million.
• Zai Lab's stock is currently priced at $36.82, reflecting a 2.6% decrease, and analysts predict it will post a loss of -2.58 EPS for the current fiscal year.
• Recent analyst ratings for Zai Lab show a mix, with one firm setting a target price of $75.00 while others have downgraded it to "hold," resulting in a consensus rating of "Moderate Buy."

Alberta Investment Management Corp cut its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,262 shares of the company's stock after selling 36,031 shares during the period. Alberta Investment Management Corp owned about 0.18% of Zai Lab worth $7,093,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab in the 4th quarter valued at $29,000. Pictet Asset Management Holding SA bought a new stake in shares of Zai Lab in the 4th quarter valued at $31,000. Barclays PLC increased its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Zai Lab in the 1st quarter valued at $110,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Zai Lab in the 1st quarter valued at $203,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Stock Performance

ZLAB traded down $0.98 during mid-day trading on Friday, reaching $36.82. 602,669 shares of the stock were exchanged, compared to its average volume of 839,907. The stock has a market capitalization of $4.09 billion, a PE ratio of -14.79 and a beta of 1.03. The company has a 50 day moving average price of $36.01 and a two-hundred day moving average price of $32.92. Zai Lab Limited Unsponsored ADR has a 1 year low of $16.01 and a 1 year high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. Sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

ZLAB has been the subject of several research analyst reports. Wall Street Zen lowered shares of 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 target on shares of Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

Insider Buying and Selling

In related news, Director William Lis sold 13,814 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.67, for a total value of $492,745.38. Following the transaction, the director directly owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. The trade was a 28.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Yajing Chen sold 9,618 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $30.00, for a total transaction of $288,540.00. Following the completion of the transaction, the chief financial officer directly owned 17,429 shares in the company, valued at $522,870. This trade represents a 35.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,155 shares of company stock valued at $4,959,535. 4.96% of the stock is owned by insiders.

Zai Lab Company 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.