Allianz Asset Management GmbH increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,884,411 shares of the company's stock after buying an additional 378,545 shares during the quarter. Allianz Asset Management GmbH owned about 1.71% of Zai Lab worth $68,103,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ZLAB. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the 4th quarter valued at approximately $29,000. Pictet Asset Management Holding SA purchased a new stake in Zai Lab in the fourth quarter valued at approximately $31,000. Barclays PLC raised its position in Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares during the period. Palumbo Wealth Management LLC purchased a new stake in Zai Lab in the first quarter valued at approximately $203,000. Finally, Jasper Ridge Partners L.P. purchased a new stake in Zai Lab in the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 41.65% of the company's stock.
Zai Lab Stock Up 1.3%
Shares of ZLAB traded up $0.48 during mid-day trading on Thursday, reaching $37.85. 423,083 shares of the company's stock were exchanged, compared to its average volume of 1,016,124. The company has a 50-day simple moving average of $35.10 and a two-hundred day simple moving average of $32.17. Zai Lab Limited Unsponsored ADR has a 52-week low of $16.01 and a 52-week high of $44.34. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -15.23 and a beta of 0.99.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. As a group, equities research analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.
Insider Buying and Selling at Zai Lab
In other Zai Lab news, CFO Yajing Chen sold 9,618 shares of Zai Lab stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $30.00, for a total value of $288,540.00. Following the transaction, the chief financial officer owned 17,429 shares in the company, valued at $522,870. This trade represents a 35.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total transaction of $1,428,500.00. Following the completion of the transaction, the chief executive officer owned 479,851 shares in the company, valued at approximately $13,709,343.07. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,155 shares of company stock worth $4,959,535 in the last quarter. 4.96% of the stock is owned by insiders.
Analyst Ratings Changes
ZLAB has been the topic of a number of research analyst reports. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Leerink Partners set a $75.00 target price on shares of Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.28.
Get Our Latest Stock Analysis on ZLAB
Zai Lab Profile
(
Free Report)
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.
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