Cubist Systematic Strategies LLC Buys 21,026 Shares of Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Cubist Systematic Strategies LLC increased its stake in Zai Lab Limited by 29.0%, owning 93,645 shares valued at approximately $3.38 million by the end of the 1st quarter.
• Analysts have set a range of price targets for Zai Lab, with Leerink Partners at $75.00 and Jefferies Financial Group at $52.00, while the average target price stands at $56.35.
• Insider transactions included CEO Ying Du selling 50,000 shares for over $1.73 million, indicating a decrease in ownership by 8.52%.

Cubist Systematic Strategies LLC lifted its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 29.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,645 shares of the company's stock after purchasing an additional 21,026 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.08% of Zai Lab worth $3,384,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC increased its position in Zai Lab by 6.0% during the first quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock worth $337,000 after purchasing an additional 529 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Zai Lab during the fourth quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 in the last quarter. Walleye Capital LLC boosted its position in Zai Lab by 6.4% in the 1st quarter. Walleye Capital LLC now owns 22,276 shares of the company's stock valued at $805,000 after buying an additional 1,338 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position 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 buying an additional 1,483 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ZLAB shares. 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 shares of Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. Jefferies Financial Group started coverage on shares of Zai Lab in a research report on Monday, August 25th. They issued a "buy" rating and a $52.00 price target on the stock. Finally, Citigroup reaffirmed a "buy" rating and set a $69.00 target price (up from $66.00) on shares of Zai Lab in a report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Zai Lab presently has an average rating of "Moderate Buy" and an average price target of $56.35.

Zai Lab Trading Up 14.4%

NASDAQ ZLAB traded up $4.08 during trading on Thursday, reaching $32.48. 2,463,513 shares of the company's stock were exchanged, compared to its average volume of 661,855. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $20.17 and a fifty-two week high of $44.34. The company's fifty day simple moving average is $34.86 and its 200-day simple moving average is $34.02. The firm has a market capitalization of $3.63 billion, a PE ratio of -15.92 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted 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. Equities analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 46,387 shares of the stock in a transaction on Wednesday, August 13th. The stock was 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 directly owned 536,962 shares in the company, valued at approximately $19,046,042.14. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua L. Smiley sold 6,641 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $36.24, for a total value of $240,669.84. Following the sale, the insider directly owned 76,604 shares of the company's stock, valued at $2,776,128.96. This trade represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,710 shares of company stock worth $7,589,684. Corporate 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.