Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Stock Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 63.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,884,810 shares of the company's stock after purchasing an additional 1,121,856 shares during the period. Principal Financial Group Inc. owned about 2.62% of Zai Lab worth $104,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. acquired a new stake in Zai Lab during the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab during the fourth quarter valued at approximately $31,000. Barclays PLC raised its stake in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares in the last quarter. US Bancorp DE raised its position in shares of Zai Lab by 1,671.9% during the 4th 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 period. Finally, Palumbo Wealth Management LLC acquired a new stake in shares of Zai Lab during the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Price Performance

ZLAB stock traded down $0.54 on Tuesday, reaching $34.94. The company's stock had a trading volume of 479,366 shares, compared to its average volume of 914,063. Zai Lab Limited Unsponsored ADR has a 52 week low of $16.01 and a 52 week high of $44.34. The company has a market capitalization of $3.88 billion, a P/E ratio of -14.03 and a beta of 0.99. The firm has a fifty day moving average of $33.92 and a two-hundred day moving average of $31.54.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on ZLAB shares. JPMorgan Chase & Co. increased their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Leerink Partners set a $75.00 price target on Zai Lab and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.28.

Insider Buying and Selling

In other Zai Lab news, CFO Yajing Chen sold 9,618 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $30.00, for a total transaction of $288,540.00. Following the completion of the transaction, the chief financial officer directly owned 17,429 shares of the company's stock, valued at approximately $522,870. This trade represents a 35.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total value of $1,428,500.00. Following the transaction, the chief executive officer directly owned 479,851 shares of the company's stock, valued at approximately $13,709,343.07. The trade was a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,155 shares of company stock valued at $4,959,535 in the last three months. 4.96% of the stock is currently owned by corporate insiders.

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.