Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Free Report) by 46,222.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,132,201 shares of the company's stock after buying an additional 2,127,598 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.94% of Zai Lab worth $77,058,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. acquired a new position in Zai Lab during the 4th quarter valued at about $29,000. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab in the 4th quarter worth approximately $31,000. Barclays PLC grew its stake in shares of 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 purchasing an additional 2,856 shares during the last quarter. US Bancorp DE grew its stake in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the last quarter. Finally, Palumbo Wealth Management LLC acquired a new position in shares of Zai Lab in the 1st quarter worth approximately $203,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Price Performance

Zai Lab stock opened at $34.74 on Friday. The firm's 50 day simple moving average is $33.46 and its 200-day simple moving average is $31.07. The company has a market cap of $3.83 billion, a P/E ratio of -13.95 and a beta of 0.96. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $16.01 and a fifty-two week high of $44.34.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZLAB shares. JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank initiated coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock. Wall Street Zen downgraded shares of Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.37.

Insider Buying and Selling

In related news, insider Frazor Titus Edmondson III sold 4,369 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $156,803.41. Following the completion of the sale, the insider now directly owns 27,217 shares in the company, valued at approximately $976,818.13. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 5,808 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $208,449.12. Following the sale, the chief executive officer now owns 476,046 shares of the company's stock, valued at approximately $17,085,290.94. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,365 shares of company stock worth $5,209,564. 4.96% of the stock is owned by company insiders.

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.

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