20,000 Shares in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Bought by Mission Wealth Management LP

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in shares of Zai Lab during the fourth quarter worth about $46,172,000. Alberta Investment Management Corp grew its stake in shares of Zai Lab by 42.9% in the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock worth $6,084,000 after purchasing an additional 69,740 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Zai Lab by 188.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after purchasing an additional 984,041 shares during the last quarter. US Bancorp DE grew its stake in shares of Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Zai Lab in the fourth quarter worth $1,032,000. Institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Bank of America reiterated a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Scotiabank assumed coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock.

Zai Lab Stock Down 6.4%

ZLAB traded down $2.38 during trading on Friday, reaching $34.55. 1,102,946 shares of the stock traded hands, compared to its average volume of 904,141. The stock has a market capitalization of $3.81 billion, a PE ratio of -13.88 and a beta of 0.96. The stock's 50-day moving average is $32.80 and its 200 day moving average is $30.81. Zai Lab Limited Unsponsored ADR has a 12 month low of $16.01 and a 12 month high of $44.34.

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. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. As a group, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Yajing Chen sold 9,618 shares of the stock in a transaction on 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 directly owns 17,429 shares of the company's stock, valued at $522,870. This represents a 35.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 5,808 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $208,449.12. Following the transaction, the chief executive officer now directly owns 476,046 shares in the company, valued at $17,085,290.94. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,207 shares of company stock worth $3,765,009. Corporate insiders own 4.96% of the company's stock.

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.