Clearbridge Investments LLC lifted its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 113.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,862,842 shares of the company's stock after buying an additional 989,664 shares during the quarter. Clearbridge Investments LLC owned approximately 1.70% of Zai Lab worth $48,788,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. purchased a new stake in Zai Lab in the fourth quarter worth $46,172,000. Geode Capital Management LLC grew its holdings in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock worth $1,053,000 after purchasing an additional 9,107 shares during the last quarter. Alberta Investment Management Corp increased its stake in Zai Lab by 42.9% in the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock worth $6,084,000 after buying an additional 69,740 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Zai Lab by 28.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock valued at $4,801,000 after buying an additional 41,128 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Zai Lab in the 4th quarter valued at about $511,000. 41.65% of the stock is owned by institutional investors.
Zai Lab Stock Down 13.4 %
Shares of NASDAQ ZLAB traded down $4.92 during midday trading on Friday, reaching $31.77. 1,754,396 shares of the company's stock traded hands, compared to its average volume of 780,652. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -11.47 and a beta of 1.07. The stock's 50 day simple moving average is $32.72 and its 200-day simple moving average is $28.83. Zai Lab Limited has a one year low of $13.48 and a one year high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced 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). The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Equities analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Insider Buying and Selling at Zai Lab
In other news, CEO Ying Du sold 50,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares of the company's stock, valued at $1,184,333.94. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,001 shares of company stock worth $4,495,143 over the last quarter. Insiders own 13.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company. Finally, Bank of America restated a "neutral" rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.
Check Out Our Latest Research Report on ZLAB
Zai Lab Profile
(
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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