B Group Inc. acquired a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 400,000 shares of the company's stock, valued at approximately $10,476,000. Zai Lab accounts for 6.4% of B Group Inc.'s holdings, making the stock its 4th largest holding. B Group Inc. owned 0.37% of Zai Lab at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of ZLAB. FMR LLC lifted its stake in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after purchasing an additional 4,830,646 shares during the period. Clearbridge Investments LLC lifted its position in Zai Lab by 113.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after buying an additional 989,664 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Zai Lab during the 4th quarter valued at $46,172,000. Allianz Asset Management GmbH grew its position in shares of Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after buying an additional 984,041 shares during the period. Finally, ADAR1 Capital Management LLC increased its stake in shares of Zai Lab by 96.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,045,837 shares of the company's stock worth $27,390,000 after acquiring an additional 513,383 shares in the last quarter. 41.65% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on ZLAB shares. Bank of America reissued a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Scotiabank initiated coverage on Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.
Get Our Latest Research Report on ZLAB
Insider Buying and Selling
In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is owned by insiders.
Zai Lab Stock Performance
Shares of NASDAQ:ZLAB traded up $0.18 during midday trading on Thursday, reaching $33.80. 853,205 shares of the company's stock traded hands, compared to its average volume of 847,579. Zai Lab Limited has a one year low of $15.05 and a one year high of $39.77. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -12.20 and a beta of 1.09. The stock has a 50 day moving average of $33.17 and a 200 day moving average of $29.37.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its 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). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Sell-side analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal 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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