Alps Advisors Inc. reduced its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 13.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,298 shares of the company's stock after selling 12,097 shares during the quarter. Alps Advisors Inc. owned 0.07% of Zai Lab worth $2,757,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in ZLAB. US Bancorp DE lifted its holdings in shares of Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after buying an additional 5,534 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Zai Lab during the fourth quarter valued at about $1,032,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Zai Lab during the fourth quarter valued at about $1,674,000. Daiwa Securities Group Inc. increased its holdings in Zai Lab by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after buying an additional 4,276 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Zai Lab by 39.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock worth $22,045,000 after purchasing an additional 237,582 shares during the period. 41.65% of the stock is currently owned by institutional investors.
Insider Transactions at Zai Lab
In other Zai Lab news, Director William Lis sold 13,814 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.67, for a total value of $492,745.38. Following the sale, the director owned 35,106 shares in the company, valued at $1,252,231.02. This represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Yajing Chen sold 9,618 shares of the firm's 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 completion of the sale, the chief financial officer directly owned 17,429 shares in the company, valued at approximately $522,870. This represents a 35.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,155 shares of company stock valued at $4,959,535 over the last three months. Company insiders own 4.96% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Wall Street Zen lowered 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 Zai Lab and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.28.
Get Our Latest Stock Report on ZLAB
Zai Lab Price Performance
Shares of ZLAB stock traded up $0.91 during trading on Tuesday, reaching $35.19. The company had a trading volume of 902,931 shares, compared to its average volume of 917,059. The firm's 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $31.72. The company has a market capitalization of $3.91 billion, a PE ratio of -14.13 and a beta of 0.99. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. The business had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. Analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.
About Zai Lab
(
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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