WealthPlan Investment Management LLC Buys New Position in Zai Lab Limited Unsponsored ADR $ZLAB

WealthPlan Investment Management LLC bought a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the 3rd quarter, HoldingsChannel reports. The fund bought 36,783 shares of the company’s stock, valued at approximately $969,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nykredit A S acquired a new position in shares of Zai Lab during the second quarter worth $79,000. Seven Fleet Capital Management LP lifted its holdings in shares of Zai Lab by 74.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after purchasing an additional 58,158 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Zai Lab by 142.0% in the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after purchasing an additional 39,901 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zai Lab

In related news, Director William Lis sold 8,506 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total value of $212,650.00. Following the transaction, the director directly owned 41,931 shares of the company’s stock, valued at $1,048,275. This represents a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 9,385 shares of company stock worth $235,145 over the last 90 days. 4.88% of the stock is owned by insiders.

Zai Lab Price Performance

NASDAQ:ZLAB opened at $23.51 on Friday. Zai Lab Limited Unsponsored ADR has a twelve month low of $15.96 and a twelve month high of $30.00. The company’s 50 day moving average is $25.39 and its two-hundred day moving average is $21.62.

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%. As a group, research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZLAB. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Citigroup upped their target price on Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Zacks Research upgraded Zai Lab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell 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 $37.25.

Zai Lab Company Profile

Zai Lab Ltd. (NASDAQ: ZLAB) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases with significant unmet medical needs. The company’s research and development activities span oncology, autoimmune and inflammatory disorders, infectious diseases, and neuroscience.

Founded in 2014 by Samantha Du, Zai Lab has built a portfolio through internal research as well as licensing and collaboration agreements with international pharmaceutical and biotechnology companies.