US Bancorp DE Acquires 12,500 Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

US Bancorp DE lifted its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 213.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,365 shares of the company's stock after purchasing an additional 12,500 shares during the quarter. US Bancorp DE's holdings in Zai Lab were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in Zai Lab during the fourth quarter valued at approximately $29,000. Barclays PLC raised its position in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares in the last quarter. Advisors Preferred LLC bought a new position in Zai Lab during the first quarter valued at approximately $110,000. Palumbo Wealth Management LLC bought a new position in Zai Lab during the first quarter valued at approximately $203,000. Finally, Jasper Ridge Partners L.P. bought a new position in Zai Lab during the fourth quarter valued at approximately $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William Lis sold 13,814 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.67, for a total value of $492,745.38. Following the sale, the director owned 35,106 shares in the company, valued at approximately $1,252,231.02. The trade was a 28.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $34.64, for a total transaction of $1,732,000.00. Following the completion of the sale, the chief executive officer owned 536,962 shares in the company, valued at $18,600,363.68. This represents a 8.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,251 shares of company stock worth $7,244,340 over the last 90 days. 4.96% of the stock is currently owned by company insiders.

Zai Lab Stock Down 1.0%

ZLAB traded down $0.35 during trading on Tuesday, reaching $34.31. 394,193 shares of the company's stock were exchanged, compared to its average volume of 856,752. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $16.01 and a fifty-two week high of $44.34. The business has a 50 day moving average price of $36.77 and a 200 day moving average price of $33.37. The company has a market capitalization of $3.81 billion, a P/E ratio of -16.82 and a beta of 1.03.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.37) earnings per share for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $125.66 million. As a group, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Analyst Ratings Changes

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

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.