6,144 Shares in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Purchased by RWC Asset Management LLP

RWC Asset Management LLP bought a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,144 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZLAB. Raymond James Financial Inc. acquired a new stake in Zai Lab during the fourth quarter worth about $1,032,000. JPMorgan Chase & Co. grew its holdings in Zai Lab by 17.0% during the fourth quarter. JPMorgan Chase & Co. now owns 161,635 shares of the company’s stock worth $4,233,000 after acquiring an additional 23,510 shares during the period. Pictet Asset Management Holding SA acquired a new stake in Zai Lab during the fourth quarter worth about $31,000. Orion Portfolio Solutions LLC acquired a new stake in Zai Lab during the fourth quarter worth about $313,000. Finally, Clearbridge Investments LLC grew its holdings in Zai Lab by 113.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock worth $48,788,000 after acquiring an additional 989,664 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Yajing Chen sold 9,618 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $30.00, for a total value of $288,540.00. Following the transaction, the chief financial officer owned 17,429 shares in the company, valued at $522,870. This trade represents a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total value of $1,428,500.00. Following the completion of the transaction, the chief executive officer owned 479,851 shares in the company, valued at approximately $13,709,343.07. This trade represents a 9.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,155 shares of company stock worth $4,959,535 over the last quarter. 4.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of several analyst reports. Leerink Partners set a $75.00 target price on Zai Lab and gave the stock an “outperform” rating in a report on Monday, June 30th. Wall Street Zen lowered Zai Lab from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.28.

Zai Lab Price Performance

NASDAQ ZLAB opened at $37.17 on Friday. The company has a market cap of $4.13 billion, a PE ratio of -14.93 and a beta of 0.99. The stock’s 50 day simple moving average is $35.40 and its 200-day simple moving average is $32.39. Zai Lab Limited Unsponsored ADR has a 1-year low of $16.01 and a 1-year high of $44.34.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, beating 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 return on equity of 33.35% and a negative net margin of 60.26%. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

About Zai Lab

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.