Capital International Investors lifted its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 82.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 264,986 shares of the company's stock after buying an additional 120,000 shares during the quarter. Capital International Investors owned about 0.24% of Zai Lab worth $6,940,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Pictet Asset Management Holding SA purchased a new position in Zai Lab during the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares in the last quarter. Invesco Ltd. boosted its holdings in Zai Lab by 4.2% in the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after buying an additional 1,790 shares during the period. Barclays PLC increased its stake in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Zai Lab by 21.5% during the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after acquiring an additional 2,993 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ZLAB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Bank of America reiterated a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank started coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company.
Check Out Our Latest Research Report on Zai Lab
Insider Activity
In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction 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 transaction, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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 $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by corporate insiders.
Zai Lab Stock Up 0.5 %
Zai Lab stock traded up $0.18 during midday trading on Thursday, reaching $33.80. 853,205 shares of the stock traded hands, compared to its average volume of 847,579. Zai Lab Limited has a 12 month low of $15.05 and a 12 month high of $39.77. The stock's fifty day moving average is $33.17 and its 200-day moving average is $29.37. The stock has a market cap of $3.71 billion, a P/E ratio of -12.20 and a beta of 1.09.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. On average, equities 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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