Mackenzie Financial Corp Takes $304,000 Position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Key Points

• Mackenzie Financial Corp acquired a new stake in Zai Lab Limited, purchasing 8,402 shares valued at approximately $304,000 in the first quarter of the year.
• Insider trading activity revealed that CEO Ying Du and Director William Lis sold significant shares of the company, indicating a potential decrease in insider confidence.
• Zai Lab's recent quarterly earnings showed a loss of ($0.37) per share, meeting consensus estimates, but falling short of revenue expectations, earning $109.98 million against an expected $125.66 million.

Mackenzie Financial Corp acquired a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,402 shares of the company's stock, valued at approximately $304,000.

Other large investors have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in shares of Zai Lab in the 4th quarter worth about $29,000. Pictet Asset Management Holding SA purchased a new position in Zai Lab during the fourth quarter valued at approximately $31,000. Barclays PLC raised its position in shares of Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Zai Lab during the first quarter valued at approximately $110,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Zai Lab during the first quarter valued at approximately $203,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ZLAB shares. Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Citigroup reiterated a "buy" rating and set a $69.00 price objective (up previously from $66.00) on shares of Zai Lab in a research report on Monday. Finally, Leerink Partners set a $75.00 price target on shares of Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.22.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Monday, August 11th. The shares were sold at an average price of $34.64, for a total transaction of $1,732,000.00. Following the sale, the chief executive officer owned 536,962 shares of the company's stock, valued at $18,600,363.68. The trade was a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Yajing Chen sold 4,096 shares of Zai Lab stock in a transaction on Friday, August 8th. The stock was sold at an average price of $34.01, for a total value of $139,304.96. Following the transaction, the chief financial officer owned 16,908 shares in the company, valued at approximately $575,041.08. This represents a 19.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,862 shares of company stock worth $5,941,273. Company insiders own 4.96% of the company's stock.

Zai Lab Stock Performance

Zai Lab stock traded up $1.18 during trading on Wednesday, reaching $35.49. The company had a trading volume of 116,511 shares, compared to its average volume of 990,182. The firm's 50-day simple moving average is $36.77 and its 200 day simple moving average is $33.37. Zai Lab Limited Unsponsored ADR has a 1-year low of $16.03 and a 1-year high of $44.34. The firm has a market capitalization of $3.94 billion, a PE ratio of -17.40 and a beta of 1.03.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $109.98 million for the quarter, compared to analysts' expectations of $125.66 million. Analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

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.