Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Stake Cut by Privium Fund Management B.V.

Key Points

• Privium Fund Management B.V. reduced its holdings in Zai Lab Limited by 28.6%, owning 132,189 shares after selling 52,873 shares in the first quarter.
• CEO Ying Du sold 50,000 shares of Zai Lab stock for approximately $1.43 million, representing a 9.44% decrease in their position.
• Zai Lab's stock has a consensus rating of "Moderate Buy" and an average price target of $54.28, despite recent downgrades by some brokerages.

Privium Fund Management B.V. lessened its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,189 shares of the company's stock after selling 52,873 shares during the quarter. Zai Lab makes up approximately 1.2% of Privium Fund Management B.V.'s holdings, making the stock its 18th largest holding. Privium Fund Management B.V. owned 0.12% of Zai Lab worth $4,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZLAB. US Bancorp DE boosted its stake in Zai Lab by 213.1% in the 1st quarter. US Bancorp DE now owns 18,365 shares of the company's stock worth $664,000 after buying an additional 12,500 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Zai Lab in the 1st quarter worth about $304,000. RWC Asset Management LLP acquired a new stake in Zai Lab in the 1st quarter worth about $222,000. Avantax Advisory Services Inc. acquired a new stake in Zai Lab in the 1st quarter worth about $225,000. Finally, Advisors Preferred LLC acquired a new stake in Zai Lab in the 1st quarter worth about $110,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Stock Down 2.6%

Shares of NASDAQ ZLAB traded down $0.98 during midday trading on Friday, hitting $36.82. The stock had a trading volume of 602,669 shares, compared to its average volume of 839,907. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -14.79 and a beta of 1.03. Zai Lab Limited Unsponsored ADR has a 1-year low of $16.01 and a 1-year high of $44.34. The company has a fifty day moving average price of $36.01 and a 200 day moving average price of $32.92.

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

Insider Activity at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 2,675 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $36.13, for a total value of $96,647.75. Following the completion of the transaction, the chief financial officer directly owned 21,004 shares of the company's stock, valued at $758,874.52. This represents a 11.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ying Du sold 7,072 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $35.23, for a total transaction of $249,146.56. Following the completion of the transaction, the chief executive officer directly owned 536,962 shares of the company's stock, valued at approximately $18,917,171.26. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,155 shares of company stock worth $4,959,535. 4.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZLAB shares. 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 Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Zai Lab presently has a consensus rating of "Moderate Buy" and an average target price of $54.28.

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.