Alps Advisors Inc. lowered its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,298 shares of the company's stock after selling 12,097 shares during the period. Alps Advisors Inc. owned approximately 0.07% of Zai Lab worth $2,757,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA bought a new stake in Zai Lab during the fourth quarter worth about $31,000. Barclays PLC boosted its stake in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after acquiring an additional 2,856 shares in the last quarter. US Bancorp DE boosted its stake in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after acquiring an additional 5,534 shares in the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in Zai Lab during the first quarter worth about $203,000. Institutional investors own 41.65% of the company's stock.
Insider Activity at Zai Lab
In related news, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 479,851 shares in the company, valued at $13,709,343.07. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Yajing Chen sold 9,618 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $30.00, for a total transaction of $288,540.00. Following the transaction, the chief financial officer owned 17,429 shares in the company, valued at approximately $522,870. This trade represents a 35.56% 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 over the last quarter. Company insiders own 4.96% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.28.
Get Our Latest Research Report on ZLAB
Zai Lab Stock Performance
Shares of NASDAQ ZLAB opened at $32.73 on Friday. The firm's 50 day moving average price is $34.09 and its 200-day moving average price is $31.66. The company has a market cap of $3.64 billion, a PE ratio of -13.14 and a beta of 0.99. Zai Lab Limited Unsponsored ADR has a 52-week low of $16.01 and a 52-week high of $44.34.
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, beating analysts' consensus estimates of ($0.50) by $0.05. The company 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%. On average, analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal 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.
Further Reading
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