Hennion & Walsh Asset Management Inc. Boosts Stake in Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. increased its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,189 shares of the company's stock after buying an additional 18,093 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.14% of Zai Lab worth $3,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its holdings 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 valued at $91,061,000 after buying an additional 465,337 shares in the last quarter. M&G Plc purchased a new stake in Zai Lab in the first quarter worth about $7,266,000. Russell Investments Group Ltd. increased its stake in shares of Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company's stock valued at $4,706,000 after purchasing an additional 99,355 shares in the last quarter. Swedbank AB purchased a new position in shares of Zai Lab during the first quarter valued at approximately $244,000. Finally, DCF Advisers LLC bought a new stake in shares of Zai Lab in the 2nd quarter worth approximately $528,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Zai Lab Stock Down 2.4 %

Shares of Zai Lab stock traded down $0.81 on Friday, reaching $32.37. The company's stock had a trading volume of 993,392 shares, compared to its average volume of 661,198. Zai Lab Limited has a 52 week low of $13.48 and a 52 week high of $36.60. The firm's fifty day simple moving average is $22.65 and its two-hundred day simple moving average is $19.48. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -9.28 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.16). The business had revenue of $100.50 million during the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. As a group, research analysts predict that Zai Lab Limited will post -2.94 EPS for the current year.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Friday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab presently has a consensus rating of "Buy" and a consensus price target of $57.71.

Insider Activity at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.23% of the stock is owned by insiders.

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.