C WorldWide Group Holding A S Sells 40,000 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

C WorldWide Group Holding A S cut its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460,000 shares of the company's stock after selling 40,000 shares during the period. C WorldWide Group Holding A S owned about 0.42% of Zai Lab worth $16,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZLAB. GF Fund Management CO. LTD. bought a new position in shares of Zai Lab in the fourth quarter worth about $29,000. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab in the fourth quarter worth about $31,000. Barclays PLC grew its holdings in Zai Lab by 337.6% during the 4th 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. Palumbo Wealth Management LLC bought a new position in Zai Lab during the 1st quarter worth about $203,000. Finally, Jasper Ridge Partners L.P. bought a new position in Zai Lab during the 4th quarter worth about $210,000. 41.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ying Du sold 50,000 shares of Zai Lab 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 completion of the transaction, the chief executive officer directly owned 479,851 shares of the company's stock, valued at $13,709,343.07. The trade was a 9.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Lis sold 13,814 shares of Zai Lab stock in a transaction that occurred on 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 directly owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. This trade represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,155 shares of company stock valued at $4,959,535. 4.96% of the stock is owned by insiders.

Zai Lab Stock Performance

ZLAB stock traded down $1.23 during trading on Friday, reaching $34.79. The company had a trading volume of 152,458 shares, compared to its average volume of 914,331. The firm has a 50-day simple moving average of $34.55 and a 200-day simple moving average of $31.89. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -13.97 and a beta of 0.99. Zai Lab Limited Unsponsored ADR has a twelve month low of $16.01 and a twelve month high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $118.40 million. Sell-side analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZLAB. Leerink Partners set a $75.00 price target on shares of Zai Lab and gave the company an "outperform" rating in a report on Monday, June 30th. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

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.

Want to see what other hedge funds are holding ZLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.