Jennison Associates LLC Purchases Shares of 712,300 Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

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

Other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in shares of Zai Lab in the fourth quarter valued at $29,000. Pictet Asset Management Holding SA bought a new stake in Zai Lab in the fourth quarter worth $31,000. Barclays PLC lifted its position 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 buying an additional 2,856 shares during the last quarter. Palumbo Wealth Management LLC bought a new stake in Zai Lab in the first quarter worth $203,000. Finally, Jasper Ridge Partners L.P. bought a new stake in Zai Lab in the fourth quarter worth $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Stock Up 0.8%

Shares of ZLAB stock traded up $0.30 on Wednesday, hitting $37.30. The stock had a trading volume of 198,662 shares, compared to its average volume of 921,303. The business has a 50 day moving average price of $34.75 and a 200 day moving average price of $32.10. Zai Lab Limited Unsponsored ADR has a one year low of $16.01 and a one year high of $44.34. The company has a market cap of $4.14 billion, a PE ratio of -15.00 and a beta of 0.99.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other news, CFO Yajing Chen sold 2,675 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $96,647.75. Following the sale, the chief financial officer owned 21,004 shares in the company, valued at approximately $758,874.52. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ying Du sold 7,072 shares of the business's stock in a transaction dated 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 in the company, valued at $18,917,171.26. The trade was a 1.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,155 shares of company stock worth $4,959,535. Insiders own 4.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ZLAB. Wall Street Zen downgraded Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.28.

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.