Cerity Partners LLC bought a new position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,617 shares of the company's stock, valued at approximately $420,000.
Other hedge funds have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Zai Lab in the fourth quarter worth approximately $29,000. Pictet Asset Management Holding SA bought a new stake in Zai Lab in the fourth quarter worth approximately $31,000. Barclays PLC increased its holdings in Zai Lab by 337.6% in 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 in the last quarter. Palumbo Wealth Management LLC bought a new stake in shares of Zai Lab during the first quarter valued at approximately $203,000. Finally, Jasper Ridge Partners L.P. acquired a new position in shares of Zai Lab during the fourth quarter worth approximately $210,000. 41.65% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ZLAB. 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. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.28.
Check Out Our Latest Stock Report on ZLAB
Zai Lab Stock Down 1.6%
Shares of NASDAQ:ZLAB opened at $37.17 on Friday. Zai Lab Limited Unsponsored ADR has a twelve month low of $16.01 and a twelve month high of $44.34. The stock's 50 day moving average is $35.40 and its 200-day moving average is $32.39. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -14.93 and a beta of 0.99.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $118.40 million. Equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director William Lis sold 13,814 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the sale, the director owned 35,106 shares in the company, valued at approximately $1,252,231.02. This represents a 28.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ying Du sold 7,072 shares of the company'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 sale, the chief executive officer owned 536,962 shares of the company's stock, valued at $18,917,171.26. This trade represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,155 shares of company stock worth $4,959,535. 4.96% of the stock is owned by corporate insiders.
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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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.
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