Raymond James Financial Inc. Boosts Holdings in Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Raymond James Financial Inc. increased its holdings in Zai Lab Limited by 219.6% during the first quarter, now owning approximately 0.11% of the company, valued at $4.55 million.
• In the last ninety days, insiders at Zai Lab sold a total of 215,710 shares valued at $7.59 million, indicating a significant decrease in insider ownership.
• Zai Lab reported a loss of $0.37 EPS for the latest quarter, meeting consensus estimates, but had revenue of $109.98 million, below expected figures.

Raymond James Financial Inc. boosted its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 219.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,967 shares of the company's stock after purchasing an additional 86,547 shares during the period. Raymond James Financial Inc. owned about 0.11% of Zai Lab worth $4,552,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ZLAB. Barclays PLC boosted its position in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares during the period. The Manufacturers Life Insurance Company boosted its position in Zai Lab by 32.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 160,378 shares of the company's stock valued at $4,200,000 after buying an additional 39,294 shares during the period. Northern Trust Corp boosted its position in Zai Lab by 117.8% in the 4th quarter. Northern Trust Corp now owns 49,365 shares of the company's stock valued at $1,293,000 after buying an additional 26,700 shares during the period. BNP Paribas Financial Markets boosted its position in Zai Lab by 1,439.8% in the 4th quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock valued at $517,000 after buying an additional 18,472 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in Zai Lab by 222.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 73,412 shares of the company's stock valued at $1,923,000 after buying an additional 133,563 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ying Du sold 46,387 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $35.47, for a total transaction of $1,645,346.89. Following the completion of the sale, the chief executive officer owned 536,962 shares of the company's stock, valued at $19,046,042.14. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joshua L. Smiley sold 6,641 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $36.24, for a total transaction of $240,669.84. Following the sale, the insider directly owned 76,604 shares of the company's stock, valued at $2,776,128.96. The trade was a 7.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,710 shares of company stock worth $7,589,684. 4.96% of the stock is currently owned by insiders.

Zai Lab Trading Up 14.4%

Shares of ZLAB traded up $4.08 during mid-day trading on Thursday, hitting $32.48. The company's stock had a trading volume of 2,463,513 shares, compared to its average volume of 661,855. The company's 50-day moving average is $34.86 and its 200-day moving average is $34.02. Zai Lab Limited Unsponsored ADR has a 52-week low of $20.17 and a 52-week high of $44.34. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -15.92 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. The firm had revenue of $109.98 million during the quarter, compared to analysts' expectations of $125.66 million. Zai Lab has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ZLAB. Wall Street Zen cut shares of Zai Lab from a "buy" rating to a "hold" rating in a research report 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, June 30th. Jefferies Financial Group began coverage on shares of Zai Lab in a research report on Monday, August 25th. They issued a "buy" rating and a $52.00 price target for the company. Finally, Citigroup reaffirmed a "buy" rating and issued a $69.00 price target (up previously from $66.00) on shares of Zai Lab in a research report on Monday, August 11th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Zai Lab has a consensus rating of "Moderate Buy" and a consensus target price of $56.35.

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.