Headlands Technologies LLC Purchases 39,901 Shares of Zai Lab Limited Unsponsored ADR $ZLAB

Headlands Technologies LLC increased its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 142.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 68,010 shares of the company’s stock after purchasing an additional 39,901 shares during the period. Headlands Technologies LLC’s holdings in Zai Lab were worth $1,292,000 as of its most recent filing with the SEC.

Separately, Royal Bank of Canada increased its position in Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after purchasing an additional 9,390 shares during the period. Institutional investors own 41.65% of the company’s stock.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 24,543 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $17.46, for a total value of $428,520.78. Following the completion of the sale, the chief executive officer directly owned 1,192,840 shares in the company, valued at approximately $20,826,986.40. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Yajing Chen sold 2,264 shares of Zai Lab stock in a transaction on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the completion of the sale, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at approximately $623,164.86. This trade represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,258 shares of company stock valued at $960,741 over the last ninety days. 4.88% of the stock is owned by corporate insiders.

Zai Lab Stock Performance

Shares of ZLAB opened at $25.46 on Tuesday. The firm has a market cap of $2.90 billion, a PE ratio of -14.89 and a beta of 0.78. Zai Lab Limited Unsponsored ADR has a 52-week low of $15.96 and a 52-week high of $34.72. The business’s 50 day moving average price is $21.44 and its two-hundred day moving average price is $20.17.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.50) EPS for the quarter. The company had revenue of $106.31 million for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%. Research analysts predict that Zai Lab Limited Unsponsored ADR will post -2.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of several analyst reports. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Citigroup increased their price objective on shares of Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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 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.