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

WealthPlan Investment Management LLC acquired a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 36,783 shares of the company’s stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Nykredit A S purchased a new stake in shares of Zai Lab in the 2nd quarter worth $79,000. Headlands Technologies LLC grew its position in shares of Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after buying an additional 39,901 shares in the last quarter. Finally, Seven Fleet Capital Management LP increased its stake in shares of Zai Lab by 74.7% during the second 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 during the period. 41.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Citigroup increased their target price on shares of Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Tuesday, October 6th. Wall Street Zen raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Finally, Zacks Research raised shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Insiders Place Their Bets

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

Zai Lab Stock Performance

Zai Lab stock opened at $23.51 on Friday. The business has a fifty day moving average of $25.39 and a two-hundred day moving average of $21.62. Zai Lab Limited Unsponsored ADR has a twelve month low of $15.96 and a twelve month high of $30.00.

Zai Lab (NASDAQ:ZLAB) last announced 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 net margin of 41.86% and a negative return on equity of 27.43%. On average, equities analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.37 EPS for the current fiscal year.

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.