Zai Lab Limited Unsponsored ADR $ZLAB Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,996 shares of the company’s stock after selling 29,695 shares during the quarter. Tidal Investments LLC’s holdings in Zai Lab were worth $2,926,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Nykredit A S bought a new stake in shares of Zai Lab during the second quarter valued at about $79,000. Seven Fleet Capital Management LP grew its position in Zai Lab by 74.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after buying an additional 58,158 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after buying an additional 39,901 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ZLAB. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Finally, Citigroup boosted their price objective on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zai Lab has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Insider Activity at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 2,264 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $17.46, for a total value of $39,529.44. Following the transaction, the chief financial officer owned 35,691 shares in the company, valued at approximately $623,164.86. This represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ying Du sold 24,543 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $428,520.78. Following the completion of the sale, the chief executive officer owned 1,192,840 shares of the company’s stock, valued at approximately $20,826,986.40. The trade was a 2.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 50,258 shares of company stock valued at $960,741. Corporate insiders own 4.88% of the company’s stock.

Zai Lab Price Performance

NASDAQ:ZLAB opened at $24.80 on Wednesday. Zai Lab Limited Unsponsored ADR has a fifty-two week low of $15.96 and a fifty-two week high of $34.72. The stock’s 50-day moving average is $22.90 and its two-hundred day moving average is $20.61. The stock has a market cap of $2.82 billion, a PE ratio of -14.50 and a beta of 0.83.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. The company had revenue of $106.31 million during the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%. On average, equities research analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.37 earnings per share for the current year.

About Zai Lab

Zai Lab Limited is a biopharmaceutical company focused on discovering, developing and commercializing medicines for significant unmet medical needs. The company’s research and development activities have centered on oncology, autoimmune and inflammatory diseases, infectious diseases, and neuroscience. Zai Lab operates through a combination of internally developed programs and collaborations with global pharmaceutical and biotechnology companies.

The company has built a commercial portfolio in Greater China that has included ZEJULA (niraparib), a PARP inhibitor used in certain ovarian cancer settings; QINLOCK (ripretinib), a treatment for gastrointestinal stromal tumors; and NUZYRA (omadacycline), an antibiotic for certain bacterial infections.