Connor Clark & Lunn Investment Management Ltd. Purchases 167,285 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Zai Lab by 19.9%, acquiring an additional 167,285 shares, bringing their total ownership to approximately 1 million shares valued at $36.5 million.
• Notable institutional investors included FMR LLC, which boosted its holding by 749.1% in the last quarter, now owning over 5.4 million shares worth approximately $143.4 million.
• Analysts have shown mixed reactions to Zai Lab's performance, with current ratings indicating a consensus of "Moderate Buy" and a target price of $54.28.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,009,020 shares of the company's stock after acquiring an additional 167,285 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.91% of Zai Lab worth $36,466,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in shares of Zai Lab by 219.0% in the first quarter. Townsquare Capital LLC now owns 29,636 shares of the company's stock valued at $1,071,000 after buying an additional 20,346 shares during the period. XY Capital Ltd bought a new stake in shares of Zai Lab in the first quarter valued at approximately $11,037,000. ABC Arbitrage SA bought a new stake in shares of Zai Lab in the first quarter valued at approximately $225,000. DCF Advisers LLC boosted its stake in shares of Zai Lab by 39.0% in the first quarter. DCF Advisers LLC now owns 90,000 shares of the company's stock valued at $3,253,000 after buying an additional 25,250 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Zai Lab by 213.1% in the first quarter. US Bancorp DE now owns 18,365 shares of the company's stock valued at $664,000 after buying an additional 12,500 shares during the period. Institutional investors own 41.65% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ZLAB shares. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Zai Lab presently has an average rating of "Moderate Buy" and a consensus target price of $57.22.

Zai Lab Stock Up 3.7%

Zai Lab stock traded up $1.28 during trading hours on Wednesday, hitting $35.59. The stock had a trading volume of 194,165 shares, compared to its average volume of 990,671. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -17.43 and a beta of 1.03. Zai Lab Limited Unsponsored ADR has a one year low of $16.03 and a one year high of $44.34. The business's 50 day simple moving average is $36.77 and its 200-day simple moving average is $33.37.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.37). The business had revenue of $109.98 million during the quarter, compared to the consensus estimate of $125.66 million. Zai Lab had a negative return on equity of 27.32% and a negative net margin of 49.68%. Research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $34.64, for a total transaction of $1,732,000.00. Following the completion of the sale, the chief executive officer directly owned 536,962 shares in the company, valued at approximately $18,600,363.68. This trade represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Lis sold 13,814 shares of the stock in a transaction dated Friday, June 20th. The stock was 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 in the company, valued at $1,252,231.02. This trade represents a 28.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,862 shares of company stock valued at $5,941,273. Company 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.