TD Asset Management Inc Sells 13,400 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

TD Asset Management Inc lowered its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,728 shares of the company's stock after selling 13,400 shares during the period. TD Asset Management Inc owned about 0.27% of Zai Lab worth $10,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ZLAB. GF Fund Management CO. LTD. bought a new stake in Zai Lab in the fourth quarter worth $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter worth about $31,000. Barclays PLC boosted its stake in shares of Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after acquiring an additional 2,856 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Zai Lab during the 1st quarter valued at about $110,000. Finally, Palumbo Wealth Management LLC bought a new position in shares of Zai Lab in the 1st quarter valued at approximately $203,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Zai Lab Price Performance

Shares of NASDAQ ZLAB traded down $0.98 during trading hours on Friday, reaching $36.82. The stock had a trading volume of 602,669 shares, compared to its average volume of 809,770. The company has a market cap 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 twelve month low of $16.01 and a twelve month high of $44.34. The business's fifty day moving average is $36.01 and its two-hundred day moving average is $32.81.

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

Analyst Upgrades and Downgrades

ZLAB has been the topic of a number of recent analyst reports. Leerink Partners set a $75.00 price target on shares of Zai Lab and gave the company an "outperform" rating in a research report on Monday, June 30th. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $54.28.

Insider Transactions at Zai Lab

In related news, Director William Lis sold 13,814 shares of Zai Lab stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the transaction, the director directly owned 35,106 shares of the company's stock, valued at $1,252,231.02. This trade represents a 28.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Yajing Chen sold 2,675 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $96,647.75. Following the sale, the chief financial officer directly owned 21,004 shares in the company, valued at $758,874.52. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,155 shares of company stock valued at $4,959,535. 4.96% of the stock is owned by insiders.

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.