Raymond James Financial Inc. purchased a new stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 39,420 shares of the company's stock, valued at approximately $1,032,000.
Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Zai Lab by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company's stock worth $2,923,000 after acquiring an additional 3,860 shares during the period. PEAK6 Investments LLC bought a new position in shares of Zai Lab in the third quarter worth about $386,000. Erste Asset Management GmbH acquired a new position in shares of Zai Lab during the 3rd quarter worth about $357,000. Point72 Asset Management L.P. bought a new stake in Zai Lab during the 3rd quarter valued at approximately $325,000. Finally, RBF Capital LLC acquired a new stake in Zai Lab in the 3rd quarter valued at approximately $241,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ZLAB has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on 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 reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. Finally, Bank of America reaffirmed a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
Get Our Latest Research Report on Zai Lab
Insider Activity
In other news, CEO Ying Du sold 50,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. This represents a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the transaction, the insider now directly owns 30,834 shares of the company's stock, valued at $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,001 shares of company stock worth $4,495,143. Company insiders own 13.88% of the company's stock.
Zai Lab Price Performance
Shares of ZLAB stock opened at $36.69 on Friday. Zai Lab Limited has a one year low of $13.48 and a one year high of $39.77. The stock has a fifty day moving average price of $32.61 and a 200 day moving average price of $28.69. The stock has a market cap of $4.02 billion, a P/E ratio of -13.25 and a beta of 1.07.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) 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 business had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
About Zai Lab
(
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.
Further Reading
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