Zai Lab Limited Unsponsored ADR $ZLAB Stock Position Lowered by Candriam S.C.A.

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

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Zai Lab by 27.3% in the fourth quarter. Geode Capital Management LLC now owns 55,520 shares of the company's stock valued at $1,454,000 after purchasing an additional 11,894 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Zai Lab by 8,090.8% in the fourth quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock valued at $1,073,000 after acquiring an additional 40,454 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Zai Lab in the fourth quarter valued at $976,000. Invesco Ltd. lifted its position in shares of Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after acquiring an additional 1,790 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Zai Lab in the fourth quarter valued at $1,032,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB traded down $1.37 during midday trading on Wednesday, reaching $32.92. The company had a trading volume of 277,618 shares, compared to its average volume of 956,201. The stock's fifty day moving average price is $35.89 and its 200-day moving average price is $33.90. The stock has a market capitalization of $3.68 billion, a P/E ratio of -16.12 and a beta of 1.03. Zai Lab Limited Unsponsored ADR has a one year low of $18.32 and a one year high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share (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 analyst estimates of $125.66 million. Zai Lab has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZLAB. Wall Street Zen downgraded Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Jefferies Financial Group initiated coverage on Zai Lab in a research report on Monday. They set a "buy" rating and a $52.00 target price on the stock. 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. Finally, Citigroup reiterated a "buy" rating and set a $69.00 target price (up from $66.00) on shares of Zai Lab in a research report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Zai Lab currently has an average rating of "Moderate Buy" and a consensus target price of $56.35.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 6,641 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $36.24, for a total transaction of $240,669.84. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 owned 17,429 shares in the company, valued at $522,870. The trade was a 35.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,328 shares of company stock worth $7,878,224 in the last quarter. 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.