C WorldWide Group Holding A S cut its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460,000 shares of the company's stock after selling 40,000 shares during the quarter. 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.
Other institutional investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the fourth quarter valued at approximately $31,000. Barclays PLC boosted its position 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 purchasing an additional 2,856 shares during the period. Palumbo Wealth Management LLC bought a new stake in Zai Lab during the first quarter worth approximately $203,000. Finally, Jasper Ridge Partners L.P. bought a new stake in Zai Lab during the fourth quarter worth approximately $210,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ZLAB has been the subject of a number of recent analyst reports. Leerink Partners set a $75.00 target price on Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Finally, Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.28.
View Our Latest Stock Analysis on ZLAB
Insider Activity
In related news, CFO Yajing Chen sold 2,675 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total value of $96,647.75. Following the completion of the transaction, the chief financial officer directly owned 21,004 shares of the company's stock, valued at $758,874.52. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ying Du sold 7,072 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $35.23, for a total value of $249,146.56. Following the completion of the transaction, the chief executive officer directly owned 536,962 shares of the company's stock, valued at approximately $18,917,171.26. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,155 shares of company stock valued at $4,959,535. 4.96% of the stock is owned by company insiders.
Zai Lab Stock Performance
Shares of ZLAB traded up $1.33 during mid-day trading on Monday, hitting $34.90. The company's stock had a trading volume of 630,235 shares, compared to its average volume of 918,345. Zai Lab Limited Unsponsored ADR has a one year low of $16.01 and a one year high of $44.34. The firm has a market capitalization of $3.88 billion, a PE ratio of -14.05 and a beta of 0.99. The stock's 50-day moving average is $34.64 and its two-hundred day moving average is $32.03.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. The company had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. Analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS 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.
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