Alberta Investment Management Corp Sells 36,031 Shares of 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 reduced its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,262 shares of the company's stock after selling 36,031 shares during the quarter. Alberta Investment Management Corp owned approximately 0.18% of Zai Lab worth $7,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE increased its position in Zai Lab by 213.1% during the 1st quarter. US Bancorp DE now owns 18,365 shares of the company's stock valued at $664,000 after purchasing an additional 12,500 shares during the period. Mackenzie Financial Corp purchased a new position in Zai Lab during the 1st quarter valued at $304,000. RWC Asset Management LLP purchased a new position in Zai Lab during the 1st quarter valued at $222,000. Avantax Advisory Services Inc. purchased a new position in Zai Lab during the 1st quarter valued at $225,000. Finally, Advisors Preferred LLC bought a new stake in shares of Zai Lab during the 1st quarter valued at $110,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Stock Down 1.0%

Shares of ZLAB stock traded down $0.41 during mid-day trading on Wednesday, reaching $39.10. 367,349 shares of the company's stock traded hands, compared to its average volume of 999,703. Zai Lab Limited Unsponsored ADR has a 12 month low of $16.01 and a 12 month high of $44.34. The company's 50-day moving average price is $36.32 and its 200-day moving average price is $33.05. The company has a market cap of $4.34 billion, a P/E ratio of -15.68 and a beta of 1.03.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $118.40 million. Equities analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

ZLAB has been the topic of a number of research reports. Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Leerink Partners set a $75.00 target price on shares of Zai Lab and gave the company an "outperform" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Zai Lab presently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 7,072 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $35.23, for a total transaction of $249,146.56. Following the sale, the chief executive officer directly owned 536,962 shares of the company's stock, valued at approximately $18,917,171.26. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Lis sold 13,814 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the transaction, the director owned 35,106 shares in the company, valued at $1,252,231.02. This represents a 28.24% decrease in their position. 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.