Privium Fund Management B.V. Sells 52,873 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

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. lowered its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 28.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,189 shares of the company's stock after selling 52,873 shares during the period. Zai Lab comprises 1.2% of Privium Fund Management B.V.'s holdings, making the stock its 18th biggest holding. Privium Fund Management B.V. owned about 0.12% of Zai Lab worth $4,777,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. US Bancorp DE raised its holdings in shares of Zai Lab by 213.1% during the first quarter. US Bancorp DE now owns 18,365 shares of the company's stock valued at $664,000 after acquiring an additional 12,500 shares during the period. Mackenzie Financial Corp acquired a new stake in Zai Lab during the 1st quarter valued at $304,000. RWC Asset Management LLP purchased a new stake in shares of Zai Lab in the first quarter valued at $222,000. Avantax Advisory Services Inc. purchased a new stake in shares of Zai Lab in the first quarter valued at $225,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Zai Lab in the first quarter worth $110,000. Institutional investors own 41.65% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ZLAB. Wall Street Zen downgraded 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 note on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.28.

Zai Lab Stock Performance

Shares of Zai Lab stock traded down $0.80 during trading on Wednesday, hitting $38.71. 580,486 shares of the stock traded hands, compared to its average volume of 1,000,301. The stock has a market cap of $4.30 billion, a P/E ratio of -15.55 and a beta of 1.03. The company has a fifty day moving average price of $36.32 and a two-hundred day moving average price of $33.05. Zai Lab Limited Unsponsored ADR has a twelve month low of $16.01 and a twelve month high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly 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 company had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. On average, equities research analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ying Du sold 7,072 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $35.23, for a total transaction of $249,146.56. Following the transaction, the chief executive officer owned 536,962 shares of the company's stock, valued at approximately $18,917,171.26. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Lis sold 13,814 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.67, for a total value of $492,745.38. Following the sale, the director directly owned 35,106 shares of the company's stock, valued at $1,252,231.02. The trade was a 28.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,155 shares of company stock valued at $4,959,535 over the last quarter. Insiders own 4.96% of the company's stock.

Zai Lab Company 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.