Y Intercept Hong Kong Ltd Takes Position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Y Intercept Hong Kong Ltd purchased a new position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,359 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds have also recently added to or reduced their stakes in ZLAB. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the 4th quarter worth about $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the 4th quarter worth about $31,000. Barclays PLC boosted its stake in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares during the last quarter. Palumbo Wealth Management LLC acquired a new stake in Zai Lab in the 1st quarter worth about $203,000. Finally, Jasper Ridge Partners L.P. acquired a new stake in Zai Lab in the 4th quarter worth about $210,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Yajing Chen sold 2,675 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total transaction of $96,647.75. Following the completion of the transaction, the chief financial officer owned 21,004 shares in the company, valued at $758,874.52. The trade was a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 7,072 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $35.23, for a total value of $249,146.56. Following the transaction, the chief executive officer owned 536,962 shares of the company's stock, valued at $18,917,171.26. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,155 shares of company stock worth $4,959,535. 4.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ZLAB. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Leerink Partners set a $75.00 price objective on Zai Lab and gave the company an "outperform" rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Zai Lab currently has a consensus rating of "Moderate Buy" and an average price target of $54.28.

Zai Lab Stock Down 2.6%

Shares of NASDAQ ZLAB traded down $0.98 during midday trading on Friday, hitting $36.82. The stock had a trading volume of 602,669 shares, compared to its average volume of 1,011,396. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -14.79 and a beta of 0.99. Zai Lab Limited Unsponsored ADR has a 1-year low of $16.01 and a 1-year high of $44.34. The company has a fifty day moving average price of $35.80 and a 200 day moving average price of $32.64.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.05. The firm had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. On average, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Zai Lab 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.