Clearbridge Investments LLC Has $13.74 Million Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Clearbridge Investments LLC decreased its stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 792,815 shares of the company's stock after selling 19,764 shares during the quarter. Clearbridge Investments LLC owned about 0.80% of Zai Lab worth $13,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZLAB. Wellington Management Group LLP increased its position in shares of Zai Lab by 177.6% during the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company's stock worth $145,845,000 after purchasing an additional 3,413,829 shares during the last quarter. Capital World Investors increased its position in shares of Zai Lab by 8.9% during the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company's stock worth $91,061,000 after purchasing an additional 465,337 shares during the last quarter. M&G Plc acquired a new position in shares of Zai Lab during the 1st quarter worth approximately $7,266,000. Janus Henderson Group PLC increased its position in shares of Zai Lab by 9.6% during the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company's stock worth $70,924,000 after purchasing an additional 387,729 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Zai Lab during the 4th quarter worth approximately $3,714,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Trading Up 7.1 %

ZLAB traded up $1.74 on Friday, reaching $26.36. The stock had a trading volume of 705,851 shares, compared to its average volume of 631,201. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -7.55 and a beta of 1.08. The firm has a 50-day moving average of $19.73 and a 200-day moving average of $18.35. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $31.22.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The business had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Sell-side analysts anticipate that Zai Lab Limited will post -2.95 EPS for the current fiscal year.

Insider Activity at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the sale, the insider now owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZLAB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Zai Lab from $43.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $58.97.

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.