Mission Wealth Management LP Invests $723,000 in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Mission Wealth Management LP bought a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company's stock, valued at approximately $723,000.

Several other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Zai Lab during the 4th quarter worth about $29,000. Pictet Asset Management Holding SA acquired a new position in Zai Lab in the 4th quarter valued at about $31,000. Barclays PLC raised its holdings in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares during the period. US Bancorp DE raised its holdings in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after acquiring an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. acquired a new stake in Zai Lab during the fourth quarter worth approximately $210,000. Institutional investors own 41.65% of the company's stock.

Insider Buying and Selling

In other news, CFO Yajing Chen sold 9,618 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $30.00, for a total transaction of $288,540.00. Following the transaction, the chief financial officer now owns 17,429 shares in the company, valued at approximately $522,870. This represents a 35.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ying Du sold 46,389 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $28.09, for a total value of $1,303,067.01. Following the completion of the sale, the chief executive officer now owns 479,851 shares of the company's stock, valued at approximately $13,479,014.59. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,207 shares of company stock valued at $3,765,009 over the last 90 days. Company insiders own 4.96% of the company's stock.

Zai Lab Stock Performance

Shares of ZLAB stock traded down $0.29 on Thursday, hitting $36.93. The company had a trading volume of 670,174 shares, compared to its average volume of 902,163. Zai Lab Limited Unsponsored ADR has a twelve month low of $16.01 and a twelve month high of $44.34. The stock's 50-day moving average is $32.70 and its two-hundred day moving average is $30.76. The firm has a market cap of $4.07 billion, a P/E ratio of -14.83 and a beta of 0.96.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates 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 net margin of 60.26% and a negative return on equity of 33.35%. Equities research analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Bank of America restated a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank began coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company.

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.