MY.Alpha Management HK Advisors Ltd Takes $8.64 Million Position in Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• MY.Alpha Management HK Advisors Ltd purchased 239,146 shares of Zai Lab Limited Unsponsored ADR, totaling approximately $8,643,000, making it the firm's 10th largest position.
• Insider activity included CEO Ying Du selling 46,387 shares, which decreased their position by 7.95%, while total insider sales over the last ninety days amounted to $7.6 million.
• Zai Lab's stock received mixed analyst ratings, with Wall Street Zen downgrading it to "hold," while Citigroup reaffirmed a "buy" rating with a price target increase to $69.00.

MY.Alpha Management HK Advisors Ltd acquired a new stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 239,146 shares of the company's stock, valued at approximately $8,643,000. Zai Lab makes up about 4.3% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 10th largest holding. MY.Alpha Management HK Advisors Ltd owned 0.22% of Zai Lab at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new position in shares of Zai Lab in the first quarter worth about $603,000. BNP Paribas Financial Markets increased its position in shares of Zai Lab by 1,439.8% during the fourth quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock valued at $517,000 after acquiring an additional 18,472 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Zai Lab by 8,090.8% during the fourth quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock valued at $1,073,000 after acquiring an additional 40,454 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Zai Lab during the fourth quarter valued at about $976,000. Finally, Northern Trust Corp grew its holdings in shares of Zai Lab by 117.8% in the fourth quarter. Northern Trust Corp now owns 49,365 shares of the company's stock valued at $1,293,000 after purchasing an additional 26,700 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zai Lab

In other news, Director William Lis sold 13,814 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the transaction, the director directly owned 35,106 shares in the company, valued at $1,252,231.02. This represents a 28.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $34.74, for a total transaction of $1,737,000.00. Following the completion of the transaction, the chief executive officer owned 536,962 shares in the company, valued at $18,654,059.88. The trade was a 8.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,328 shares of company stock valued at $7,878,224. Insiders own 4.96% of the company's stock.

Zai Lab Price Performance

NASDAQ:ZLAB traded up $0.49 on Thursday, reaching $33.99. The stock had a trading volume of 526,462 shares, compared to its average volume of 972,200. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -16.66 and a beta of 1.03. The firm's fifty day moving average is $36.20 and its two-hundred day moving average is $33.70. Zai Lab Limited Unsponsored ADR has a 12-month low of $17.30 and a 12-month high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its 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). The company had revenue of $109.98 million for the quarter, compared to analyst estimates of $125.66 million. Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. Zai Lab has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZLAB has been the subject of a number of research reports. Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Citigroup restated 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, August 11th. Finally, Leerink Partners set a $75.00 price objective on shares of Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Zai Lab presently has an average rating of "Moderate Buy" and an average target price of $57.22.

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.