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Townsquare Capital LLC Purchases 20,346 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Zai Lab logo with Medical background

Key Points

  • Townsquare Capital LLC increased its stake in Zai Lab Limited by 219% in Q1, acquiring 20,346 additional shares, totaling 29,636 shares with a value of approximately $1,071,000.
  • Equities analysts have mixed ratings for Zai Lab, with a consensus rating of "Moderate Buy" and a average price target of $57.22.
  • Insider trading activity showed significant sales, with CEO Ying Du selling 50,000 shares for about $1.74 million, representing an 8.52% decrease in ownership.
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Townsquare Capital LLC boosted its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 219.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,636 shares of the company's stock after acquiring an additional 20,346 shares during the period. Townsquare Capital LLC's holdings in Zai Lab were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XY Capital Ltd bought a new position in Zai Lab during the first quarter valued at about $11,037,000. ABC Arbitrage SA bought a new position in Zai Lab during the first quarter valued at about $225,000. DCF Advisers LLC increased its stake in Zai Lab by 39.0% during the first quarter. DCF Advisers LLC now owns 90,000 shares of the company's stock valued at $3,253,000 after acquiring an additional 25,250 shares during the period. US Bancorp DE increased its stake in 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. Finally, Mackenzie Financial Corp bought a new position in Zai Lab during the first quarter valued at about $304,000. 41.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Leerink Partners set a $75.00 price target on Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Citigroup reiterated a "buy" rating and issued a $69.00 price objective (up from $66.00) on shares of Zai Lab in a research note on Monday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Zai Lab currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.22.

View Our Latest Analysis on ZLAB

Zai Lab Trading Down 2.0%

ZLAB stock opened at $34.93 on Friday. Zai Lab Limited Unsponsored ADR has a 1-year low of $16.03 and a 1-year high of $44.34. The firm has a market cap of $3.88 billion, a P/E ratio of -17.12 and a beta of 1.03. The business's 50 day moving average is $36.73 and its 200-day moving average is $33.44.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). Zai Lab had a negative return on equity of 27.32% and a negative net margin of 49.68%. The company had revenue of $109.98 million for the quarter, compared to analyst estimates of $125.66 million. Sell-side analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Lis sold 13,814 shares of the business'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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $34.74, for a total value of $1,737,000.00. Following the completion of the transaction, the chief executive officer directly owned 536,962 shares in the company, valued at $18,654,059.88. The trade was a 8.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,249 shares of company stock valued at $7,586,620 over the last quarter. 4.96% of the stock is owned by insiders.

Zai Lab Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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