Envestnet Asset Management Inc. Grows Position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)

Envestnet Asset Management Inc. raised its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 379.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,714 shares of the company's stock after acquiring an additional 141,436 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Zai Lab worth $6,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ZLAB. FMR LLC raised its stake in Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after purchasing an additional 4,830,646 shares during the last quarter. RTW Investments LP bought a new stake in Zai Lab in the 4th quarter valued at $65,714,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zai Lab by 46,222.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,132,201 shares of the company's stock worth $77,058,000 after purchasing an additional 2,127,598 shares during the last quarter. RA Capital Management L.P. bought a new stake in shares of Zai Lab in the 4th quarter worth about $33,917,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Zai Lab by 63.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,884,810 shares of the company's stock worth $104,257,000 after purchasing an additional 1,121,856 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZLAB has been the topic of several analyst reports. Leerink Partners set a $75.00 target price on shares of Zai Lab and gave the stock an "outperform" rating in a report on Monday, June 30th. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Zai Lab currently has an average rating of "Moderate Buy" and an average target price of $54.28.

Zai Lab Stock Performance

Shares of NASDAQ ZLAB traded down $0.60 during mid-day trading on Friday, reaching $37.17. The company had a trading volume of 635,728 shares, compared to its average volume of 1,015,262. Zai Lab Limited Unsponsored ADR has a one year low of $16.01 and a one year high of $44.34. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -14.93 and a beta of 0.99. The business's 50-day simple moving average is $35.28 and its 200 day simple moving average is $32.26.

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

Insider Transactions at Zai Lab

In related news, CFO Yajing Chen sold 2,675 shares of the company'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 value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Lis sold 13,814 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 35,106 shares in the company, valued at $1,252,231.02. The trade was a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,155 shares of company stock worth $4,959,535. Insiders own 4.96% of the company's stock.

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.