Marks Group Wealth Management Inc Takes Position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Marks Group Wealth Management Inc bought a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,331 shares of the company's stock, valued at approximately $373,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZLAB. Cerity Partners LLC purchased a new position in Zai Lab during the 1st quarter worth approximately $420,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 13.4% in 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 during the period. Envestnet Asset Management Inc. grew its holdings in shares of Zai Lab by 379.4% during the first quarter. Envestnet Asset Management Inc. now owns 178,714 shares of the company's stock valued at $6,459,000 after buying an additional 141,436 shares in the last quarter. Penserra Capital Management LLC acquired a new position in Zai Lab during the first quarter valued at $2,427,000. Finally, Bank of New York Mellon Corp purchased a new stake in Zai Lab in the 1st quarter worth about $297,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Price Performance

Shares of ZLAB stock traded up $1.55 on Monday, hitting $34.28. The company's stock had a trading volume of 741,183 shares, compared to its average volume of 1,021,824. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -13.77 and a beta of 0.99. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $16.01 and a fifty-two week high of $44.34. The firm's fifty day moving average price is $34.09 and its 200-day moving average price is $31.72.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $118.40 million. Analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Zai Lab

In other Zai Lab news, Director William Lis sold 13,814 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the transaction, the director owned 35,106 shares of the company's stock, valued at $1,252,231.02. The trade was a 28.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Yajing Chen sold 2,675 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $36.13, for a total value of $96,647.75. Following the completion of the sale, the chief financial officer directly owned 21,004 shares in the company, valued at approximately $758,874.52. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,155 shares of company stock worth $4,959,535. 4.96% of the stock is owned by insiders.

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.