Jennison Associates LLC Makes New Investment in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Jennison Associates LLC acquired a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 712,300 shares of the company's stock, valued at approximately $25,743,000. Jennison Associates LLC owned 0.65% of Zai Lab at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC raised its holdings in Zai Lab by 6.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 9,323 shares of the company's stock worth $337,000 after buying an additional 529 shares during the period. Marks Group Wealth Management Inc acquired a new stake in shares of Zai Lab during the first quarter worth $373,000. Cerity Partners LLC bought a new stake in Zai Lab in the 1st quarter valued at $420,000. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 13.4% during the 1st 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 in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Zai Lab by 379.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 178,714 shares of the company's stock valued at $6,459,000 after purchasing an additional 141,436 shares during the period. 41.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zai Lab

In other news, CEO Ying Du sold 7,072 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $35.23, for a total transaction of $249,146.56. Following the completion of the sale, the chief executive officer owned 536,962 shares in the company, valued at $18,917,171.26. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Yajing Chen sold 2,675 shares of Zai Lab stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $36.13, for a total transaction of $96,647.75. Following the completion of the sale, the chief financial officer directly owned 21,004 shares of the company's stock, valued at approximately $758,874.52. The trade was a 11.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,155 shares of company stock valued at $4,959,535. Corporate insiders own 4.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZLAB. Leerink Partners set a $75.00 price target on Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $54.28.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB opened at $33.57 on Friday. The company has a market capitalization of $3.73 billion, a PE ratio of -13.48 and a beta of 0.99. The company has a fifty day moving average of $34.64 and a 200-day moving average of $31.98. Zai Lab Limited Unsponsored ADR has a 52-week low of $16.01 and a 52-week high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. The business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. On average, equities analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

About Zai Lab

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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