ADAR1 Capital Management LLC lifted its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 96.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,045,837 shares of the company's stock after purchasing an additional 513,383 shares during the period. Zai Lab accounts for about 5.5% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. ADAR1 Capital Management LLC owned approximately 0.96% of Zai Lab worth $27,390,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Zai Lab by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company's stock worth $2,923,000 after acquiring an additional 3,860 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Zai Lab during the third quarter worth approximately $325,000. Wellington Management Group LLP grew its holdings in Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock valued at $203,660,000 after purchasing an additional 1,312,115 shares during the last quarter. XTX Topco Ltd grew its holdings in Zai Lab by 8.0% during the third quarter. XTX Topco Ltd now owns 31,618 shares of the company's stock valued at $763,000 after purchasing an additional 2,335 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Zai Lab in the third quarter valued at approximately $225,000. 41.65% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ZLAB has been the topic of a number of research analyst reports. Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank initiated coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.
Check Out Our Latest Stock Analysis on ZLAB
Insider Buying and Selling
In other news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the transaction, the insider now owns 30,834 shares of the company's stock, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,744 shares of company stock worth $4,685,294 in the last 90 days. 13.88% of the stock is owned by company insiders.
Zai Lab Stock Performance
Shares of ZLAB stock traded up $5.22 during mid-day trading on Friday, reaching $29.54. The company's stock had a trading volume of 3,044,626 shares, compared to its average volume of 822,235. The firm's 50-day moving average is $32.74 and its two-hundred day moving average is $29.07. The company has a market cap of $3.24 billion, a P/E ratio of -10.66 and a beta of 1.09. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Sell-side analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
About Zai Lab
(
Free Report)
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.
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