Candriam S.C.A. Sells 134,538 Shares of Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Candriam S.C.A. reduced its holdings in Zai Lab by 35.8%, selling 134,538 shares during the 1st quarter, leaving it with 240,941 shares valued at approximately $8.7 million.
• Several institutional investors increased their stakes in Zai Lab, including Wells Fargo & Company which raised its position by 8,090.8%, now holding 40,954 shares.
• Zai Lab's stock is currently trading at $33.99, with a 52-week low of $17.30 and a high of $44.34, reflecting significant market volatility.

Candriam S.C.A. cut its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 35.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 240,941 shares of the company's stock after selling 134,538 shares during the period. Candriam S.C.A. owned 0.22% of Zai Lab worth $8,708,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ZLAB. Geode Capital Management LLC raised its position in Zai Lab by 27.3% in the fourth quarter. Geode Capital Management LLC now owns 55,520 shares of the company's stock worth $1,454,000 after acquiring an additional 11,894 shares during the period. Wells Fargo & Company MN raised its position in Zai Lab by 8,090.8% in the fourth quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock worth $1,073,000 after acquiring an additional 40,454 shares during the period. Envestnet Asset Management Inc. bought a new position in Zai Lab in the fourth quarter worth approximately $976,000. Invesco Ltd. raised its position in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after acquiring an additional 1,790 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Zai Lab in the fourth quarter worth approximately $1,032,000. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Stock Up 1.5%

Shares of NASDAQ:ZLAB opened at $33.99 on Friday. Zai Lab Limited Unsponsored ADR has a 52 week low of $17.30 and a 52 week high of $44.34. The stock has a market capitalization of $3.78 billion, a P/E ratio of -16.66 and a beta of 1.03. The firm has a fifty day simple moving average of $36.20 and a two-hundred day simple moving average of $33.70.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, hitting analysts' consensus estimates of ($0.37). Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. The business had revenue of $109.98 million during the quarter, compared to analysts' expectations of $125.66 million. Zai Lab has set its FY 2025 guidance at EPS. On average, analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Leerink Partners set a $75.00 price objective on shares of Zai Lab and gave the company an "outperform" rating in a research report on Monday, June 30th. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Citigroup restated a "buy" rating and set a $69.00 price objective (up from $66.00) on shares of Zai Lab in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Zai Lab has an average rating of "Moderate Buy" and an average target price of $57.22.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 46,387 shares of Zai Lab stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $35.47, for a total transaction of $1,645,346.89. Following the completion of the sale, the chief executive officer owned 536,962 shares in the company, valued at $19,046,042.14. This trade represents a 7.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joshua L. Smiley sold 6,641 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $36.24, for a total transaction of $240,669.84. Following the completion of the sale, the insider owned 76,604 shares of the company's stock, valued at approximately $2,776,128.96. This represents a 7.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,328 shares of company stock worth $7,878,224. Corporate insiders own 4.96% of the company's stock.

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.

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