Russell Investments Group Ltd. Has $1.36 Million Stake in Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Zai Lab Limited Unsponsored ADR by 83.7%, selling 193,978 shares and now holding 37,716 shares valued at approximately $1.36 million.
• Zai Lab's stock is currently trading at $32.56, with a market capitalization of $3.64 billion and a P/E ratio of -15.96.
• Insider transactions show notable sell-offs, with CFO Yajing Chen selling 1,438 shares and total insider sales reaching $7.88 million over the past three months.

Russell Investments Group Ltd. reduced its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 83.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,716 shares of the company's stock after selling 193,978 shares during the period. Russell Investments Group Ltd.'s holdings in Zai Lab were worth $1,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its position in Zai Lab by 23.0% in the first quarter. Invesco Ltd. now owns 54,544 shares of the company's stock worth $1,971,000 after buying an additional 10,204 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Zai Lab by 19.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,009,020 shares of the company's stock worth $36,466,000 after buying an additional 167,285 shares during the period. Townsquare Capital LLC increased its position in Zai Lab by 219.0% in the first quarter. Townsquare Capital LLC now owns 29,636 shares of the company's stock worth $1,071,000 after buying an additional 20,346 shares during the period. XY Capital Ltd acquired a new stake in Zai Lab in the first quarter worth $11,037,000. Finally, ABC Arbitrage SA acquired a new stake in Zai Lab in the first quarter worth $225,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 6,641 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $36.24, for a total value of $240,669.84. Following the sale, the insider owned 76,604 shares of the company's stock, valued at $2,776,128.96. This trade represents a 7.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $35.00, for a total value of $105,000.00. Following the completion of the sale, the insider directly owned 42,178 shares in the company, valued at $1,476,230. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,710 shares of company stock valued at $7,589,684 over the last 90 days. Company insiders own 4.96% of the company's stock.

Analysts Set New Price Targets

ZLAB has been the topic of several analyst reports. Citigroup reaffirmed a "buy" rating and issued a $69.00 target price (up from $66.00) on shares of Zai Lab in a research report on Monday, August 11th. Leerink Partners set a $75.00 price target on Zai Lab and gave the stock an "outperform" rating in a research note on Monday, June 30th. Jefferies Financial Group began coverage on Zai Lab in a research note on Monday, August 25th. They issued a "buy" rating and a $52.00 price target for the company. Finally, Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.35.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB traded up $0.88 during midday trading on Monday, reaching $33.10. The company had a trading volume of 378,288 shares, compared to its average volume of 538,751. Zai Lab Limited Unsponsored ADR has a 1-year low of $18.60 and a 1-year high of $44.34. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -16.23 and a beta of 1.04. The company has a fifty day simple moving average of $35.68 and a two-hundred day simple moving average of $34.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.37). The business had revenue of $109.98 million during the quarter, compared to analyst estimates of $125.66 million. Zai Lab had a negative return on equity of 27.32% and a negative net margin of 49.68%. Zai Lab has set its FY 2025 guidance at EPS. Analysts expect that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

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.