FIL Ltd lessened its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,713 shares of the company's stock after selling 14,228 shares during the period. FIL Ltd owned approximately 0.10% of Zai Lab worth $2,926,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. 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 position in shares of Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after acquiring an additional 1,502 shares in the last quarter. Invesco Ltd. boosted its stake in Zai Lab by 4.2% during the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after purchasing an additional 1,790 shares during the last quarter. M&T Bank Corp grew its stake in Zai Lab by 9.6% during the 3rd quarter. M&T Bank Corp now owns 25,188 shares of the company's stock valued at $608,000 after acquiring an additional 2,209 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Zai Lab by 21.5% in the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after purchasing an additional 2,993 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.
Zai Lab Trading Down 4.8 %
Shares of ZLAB traded down $1.45 during mid-day trading on Wednesday, hitting $28.93. 1,291,906 shares of the company's stock were exchanged, compared to its average volume of 835,362. The business's 50 day moving average is $32.88 and its two-hundred day moving average is $29.18. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $39.77. The firm has a market capitalization of $3.17 billion, a P/E ratio of -10.44 and a beta of 1.09.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. On average, equities research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Buying and Selling
In other Zai Lab 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 value of $1,723,500.00. Following the completion of the sale, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total value 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. Insiders have sold 138,744 shares of company stock worth $4,685,294 in the last three months. Corporate insiders own 13.88% of the company's stock.
Analysts Set New Price Targets
ZLAB has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Bank of America restated a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th.
View Our Latest Stock Analysis on ZLAB
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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