JPMorgan Chase & Co. Has $4.23 Million Stake in Zai Lab Limited (NASDAQ:ZLAB)

JPMorgan Chase & Co. increased its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 161,635 shares of the company's stock after acquiring an additional 23,510 shares during the period. JPMorgan Chase & Co. owned approximately 0.15% of Zai Lab worth $4,233,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ZLAB. US Bancorp DE raised its stake in shares of Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Zai Lab by 15.7% in 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 during the period. Daiwa Securities Group Inc. boosted its position in shares of Zai Lab by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after buying an additional 4,276 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Zai Lab in the 4th quarter worth about $365,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Zai Lab in the 3rd quarter worth about $369,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at $16,029,155.48. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frazor Titus Edmondson III sold 1,874 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $62,048.14. Following the transaction, the insider now owns 30,375 shares of the company's stock, valued at approximately $1,005,716.25. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock. Finally, Bank of America reissued a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

Zai Lab Trading Down 0.2 %

NASDAQ:ZLAB traded down $0.07 during trading hours on Thursday, hitting $33.55. 376,473 shares of the stock traded hands, compared to its average volume of 844,192. The firm has a 50 day moving average price of $33.17 and a 200 day moving average price of $29.37. Zai Lab Limited has a fifty-two week low of $15.05 and a fifty-two week high of $39.77. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -12.16 and a beta of 1.09.

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). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. Research analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.

Zai Lab Company 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.