Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 94.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,517 shares of the company's stock after selling 82,387 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Zai Lab were worth $107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in shares of Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock valued at $43,000 after purchasing an additional 904 shares in the last quarter. Headlands Technologies LLC acquired a new position in Zai Lab during the 1st quarter valued at about $64,000. Swedbank AB acquired a new position in shares of Zai Lab in the 1st quarter valued at $244,000. Dimensional Fund Advisors LP purchased a new stake in Zai Lab in the second quarter valued at $270,000. Finally, Tidal Investments LLC purchased a new stake in Zai Lab in the 1st quarter worth approximately $334,000. Institutional investors own 41.65% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Friday, October 25th. 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 report on Monday, October 21st.

Zai Lab Stock Up 0.4 %

Shares of NASDAQ ZLAB traded up $0.11 during midday trading on Tuesday, hitting $31.00. The stock had a trading volume of 296,858 shares, compared to its average volume of 662,700. The stock has a 50 day simple moving average of $24.26 and a 200-day simple moving average of $20.24. The company has a market capitalization of $3.09 billion, a PE ratio of -10.06 and a beta of 1.04. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $36.60.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.16). The firm had revenue of $100.50 million during the quarter, compared to analysts' expectations of $94.46 million. Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. As a group, analysts expect that Zai Lab Limited will post -2.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Joshua L. Smiley sold 4,352 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.88% of the stock is currently owned by company insiders.

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.