Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in 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. boosted its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 19.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,009,020 shares of the company's stock after purchasing an additional 167,285 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.91% of Zai Lab worth $36,466,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Kingsview Wealth Management LLC boosted its holdings in shares of Zai Lab by 6.0% in the first quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock valued at $337,000 after acquiring an additional 529 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after acquiring an additional 1,200 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Zai Lab by 13.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,544 shares of the company's stock worth $453,000 after purchasing an additional 1,483 shares during the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZLAB has been the subject of several analyst reports. Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Leerink Partners set a $75.00 price target on Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

Zai Lab Stock Up 2.6%

Shares of ZLAB traded up $0.88 during trading hours on Friday, reaching $34.96. 627,495 shares of the company traded hands, compared to its average volume of 872,755. The stock has a market capitalization of $3.88 billion, a PE ratio of -17.14 and a beta of 1.03. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $16.01 and a fifty-two week high of $44.34. The stock has a fifty day simple moving average of $36.63 and a 200 day simple moving average of $33.30.

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 return on equity of 27.32% and a negative net margin of 49.68%. The firm had revenue of $109.98 million for the quarter, compared to analyst estimates of $125.66 million. Research analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Lis sold 13,814 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $35.67, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Yajing Chen sold 2,675 shares of the firm's stock in a transaction dated 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 owned 21,004 shares in the company, valued at approximately $758,874.52. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,155 shares of company stock valued at $4,959,535. Insiders own 4.96% of the company's stock.

Zai Lab 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.