Connor Clark & Lunn Investment Management Ltd. Buys 237,582 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 39.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 841,735 shares of the company's stock after purchasing an additional 237,582 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.77% of Zai Lab worth $22,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock worth $211,488,000 after buying an additional 2,232,507 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 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 acquiring an additional 1,312,115 shares during the period. Bamco Inc. NY boosted its stake in shares of Zai Lab by 6.4% in the 3rd quarter. Bamco Inc. NY now owns 1,906,520 shares of the company's stock valued at $46,023,000 after purchasing an additional 113,869 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Zai Lab in the 4th quarter worth about $46,172,000. Finally, Allianz Asset Management GmbH increased its position in shares of Zai Lab by 188.6% during the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after purchasing an additional 984,041 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Friday, February 28th. The shares were 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 owns 494,117 shares of the company's stock, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,127 shares of company stock worth $4,024,442 over the last three months. 13.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Zai Lab to a "strong-buy" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday. 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 objective for the company. Finally, Bank of America reissued a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Trading Up 0.4 %

Shares of ZLAB traded up $0.15 during mid-day trading on Monday, hitting $38.35. 560,000 shares of the company traded hands, compared to its average volume of 750,080. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of -13.84 and a beta of 1.08. The business has a 50-day moving average of $29.47 and a 200 day moving average of $27.19. Zai Lab Limited has a one year low of $13.48 and a one year high of $39.61.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million during 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%. As a group, analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.

Zai Lab Profile

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.