Seven Fleet Capital Management LP Has $2.58 Million Stock Holdings in Zai Lab Limited Unsponsored ADR $ZLAB

Seven Fleet Capital Management LP increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 74.7% during the 2nd quarter, Holdings Channel reports. The fund owned 136,016 shares of the company’s stock after buying an additional 58,158 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Zai Lab were worth $2,584,000 at the end of the most recent quarter.

Separately, Headlands Technologies LLC increased its stake in Zai Lab by 142.0% in the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after purchasing an additional 39,901 shares in the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZLAB. Wall Street Zen lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Citigroup raised their price objective on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $26.23 on Friday. The company has a market capitalization of $2.98 billion, a P/E ratio of -15.34 and a beta of 0.83. The company’s 50 day moving average price is $22.07 and its two-hundred day moving average price is $20.36. Zai Lab Limited Unsponsored ADR has a 52 week low of $15.96 and a 52 week high of $34.72.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. The company had revenue of $106.31 million during the quarter. Analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.17 earnings per share for the current year.

Insider Activity at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 2,264 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $39,529.44. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 8,506 shares of Zai Lab stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $25.00, for a total value of $212,650.00. Following the completion of the sale, the director directly owned 41,931 shares in the company, valued at $1,048,275. This represents a 16.86% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 50,258 shares of company stock valued at $960,741. 4.88% of the stock is owned by corporate insiders.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.