Seven Fleet Capital Management LP Acquires 58,158 Shares of Zai Lab Limited Unsponsored ADR $ZLAB

Key Points

• Seven Fleet Capital Management increased its Zai Lab stake by 74.7% in the second quarter, purchasing 58,158 additional shares and bringing its holdings to 136,016 shares worth approximately $2.58 million.
• Zai Lab reported quarterly revenue of $106.31 million and a loss of $0.50 per share, while analysts expect a full-year loss of $2.17 per share. Institutional investors and hedge funds own 41.65% of the company.
• Analyst sentiment remains moderately bullish, with an average rating of “Moderate Buy” and a $37.25 price target, although insiders have sold 50,258 shares over the past 90 days, primarily to cover tax obligations.

Seven Fleet Capital Management LP grew its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 74.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,016 shares of the company's stock after buying an additional 58,158 shares during the quarter. Seven Fleet Capital Management LP owned approximately 0.12% of Zai Lab worth $2,584,000 at the end of the most recent reporting period.

Separately, Royal Bank of Canada lifted its position in Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company's stock worth $498,000 after buying an additional 9,390 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Trading Down 2.9%

Zai Lab stock opened at $26.23 on Friday. The company has a market cap of $2.98 billion, a PE ratio of -15.34 and a beta of 0.83. Zai Lab Limited Unsponsored ADR has a 1 year low of $15.96 and a 1 year high of $34.72. The company's 50-day moving average is $22.07 and its two-hundred day moving average is $20.36.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%.The business had revenue of $106.31 million for the quarter. Research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.17 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ying Du sold 7,026 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $18.53, for a total value of $130,191.78. Following the transaction, the chief executive officer owned 1,203,784 shares of the company's stock, valued at $22,306,117.52. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Yajing Chen sold 2,264 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.46, for a total value of $39,529.44. Following the completion of the transaction, the chief financial officer owned 35,691 shares in the company, valued at $623,164.86. This represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 50,258 shares of company stock valued at $960,741. Company insiders own 4.88% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ZLAB. Zacks Research upgraded shares of Zai Lab from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Zai Lab from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Zai Lab from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Citigroup upped their price objective on Zai Lab from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.25.

Zai Lab Company Profile

Zai Lab Ltd NASDAQ: ZLAB is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company's end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company's marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton's tyrosine kinase inhibitor approved for several B-cell malignancies.

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