Legal & General Group Plc cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,727 shares of the company's stock after selling 19,623 shares during the period. Legal & General Group Plc owned approximately 0.08% of Zai Lab worth $2,165,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Pictet Asset Management Holding SA purchased a new position in Zai Lab in the 4th quarter worth about $31,000. China Universal Asset Management Co. Ltd. increased its position 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 worth $290,000 after purchasing an additional 1,502 shares during the last quarter. Invesco Ltd. increased its holdings in Zai Lab by 4.2% in the fourth 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 last quarter. Bank of Montreal Can raised its position 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 in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Zai Lab by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock valued at $362,000 after acquiring an additional 4,276 shares during the last quarter. Institutional investors own 41.65% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on ZLAB. Scotiabank assumed coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. lifted 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. Bank of America reissued a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th.
Get Our Latest Report on Zai Lab
Insider Activity
In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction 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 directly owns 494,117 shares of the company's stock, valued at $17,032,212.99. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is owned by insiders.
Zai Lab Stock Down 5.3 %
NASDAQ:ZLAB traded down $1.80 during mid-day trading on Friday, reaching $32.00. 1,671,388 shares of the company were exchanged, compared to its average volume of 854,161. The stock has a market cap of $3.52 billion, a PE ratio of -11.55 and a beta of 1.09. The company has a fifty day moving average of $33.29 and a 200 day moving average of $29.50. Zai Lab Limited has a 12 month low of $15.67 and a 12 month high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) 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 company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. On average, equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Zai Lab Company 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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