Oppenheimer Asset Management Inc. Makes New Investment in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Oppenheimer Asset Management Inc. acquired a new position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,689 shares of the company's stock, valued at approximately $603,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Zai Lab by 749.1% in the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after buying an additional 4,830,646 shares during the period. RTW Investments LP bought a new stake in shares of Zai Lab in the 4th quarter valued at $65,714,000. Price T Rowe Associates Inc. MD lifted its position in shares of Zai Lab by 30.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock valued at $61,653,000 after acquiring an additional 548,378 shares during the period. Clearbridge Investments LLC lifted its position in shares of Zai Lab by 113.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after acquiring an additional 989,664 shares during the period. Finally, Woodline Partners LP boosted its stake in Zai Lab by 9.4% during the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company's stock worth $46,089,000 after acquiring an additional 151,835 shares in the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Price Performance

Shares of NASDAQ ZLAB opened at $34.74 on Monday. The company has a 50-day moving average price of $33.46 and a 200-day moving average price of $31.13. The stock has a market capitalization of $3.86 billion, a P/E ratio of -13.95 and a beta of 0.96. Zai Lab Limited Unsponsored ADR has a 1 year low of $16.01 and a 1 year high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) EPS 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 firm had revenue of $106.49 million during the quarter, compared to analyst estimates of $118.40 million. As a group, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ying Du sold 23,669 shares of Zai Lab stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $855,160.97. Following the sale, the chief executive officer now directly owns 514,982 shares in the company, valued at $18,606,299.66. The trade was a 4.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frazor Titus Edmondson III sold 4,369 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $156,803.41. Following the completion of the transaction, the insider now directly owns 27,217 shares in the company, valued at $976,818.13. This trade represents a 13.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 167,365 shares of company stock valued at $5,209,564 in the last three months. 4.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZLAB shares. JPMorgan Chase & Co. lifted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Scotiabank began coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company. Wall Street Zen downgraded Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Finally, Bank of America restated a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.37.

About Zai Lab

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.

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