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

Oppenheimer Asset Management Inc. acquired 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 filing with the Securities & Exchange Commission. The fund acquired 16,689 shares of the company's stock, valued at approximately $603,000.

A number of other institutional investors have also recently made changes to their positions in ZLAB. US Bancorp DE raised its holdings in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after buying an additional 5,534 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Zai Lab in the fourth quarter valued at about $1,032,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Zai Lab during the fourth quarter valued at about $1,674,000. Daiwa Securities Group Inc. boosted its holdings in shares of Zai Lab by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after purchasing an additional 4,276 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Zai Lab by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock worth $22,045,000 after purchasing an additional 237,582 shares during the period. Hedge funds and other institutional investors own 41.65% of the company's stock.

Insider Transactions at Zai Lab

In related news, insider Frazor Titus Edmondson III sold 1,874 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $62,048.14. Following the sale, the insider owned 30,375 shares in the company, valued at approximately $1,005,716.25. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 6,918 shares of Zai Lab stock in a transaction on Monday, June 30th. The stock was sold at an average price of $35.52, for a total transaction of $245,727.36. Following the completion of the transaction, the chief executive officer directly owned 526,034 shares of the company's stock, valued at $18,684,727.68. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,826 shares of company stock valued at $4,900,539 over the last 90 days. Insiders own 4.96% of the company's stock.

Zai Lab Stock Performance

Shares of NASDAQ ZLAB traded up $0.94 during midday trading on Thursday, reaching $36.43. The stock had a trading volume of 581,959 shares, compared to its average volume of 1,038,842. Zai Lab Limited Unsponsored ADR has a 12-month low of $16.01 and a 12-month high of $44.34. The stock has a 50-day moving average of $33.66 and a 200-day moving average of $31.25. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of -14.63 and a beta of 0.99.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.05. The firm had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. As a group, analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZLAB has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. upped their target price on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Leerink Partners set a $75.00 price objective on shares of Zai Lab and gave the company an "outperform" rating in a research report on Monday. Finally, Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.28.

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.