Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP lessened its position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,305,337 shares of the company's stock after selling 10,336 shares during the period. Zai Lab comprises 1.3% of Rock Springs Capital Management LP's portfolio, making the stock its 27th largest holding. Rock Springs Capital Management LP owned approximately 1.19% of Zai Lab worth $34,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab during the 4th quarter valued at about $31,000. Barclays PLC increased its position in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after purchasing an additional 2,856 shares during the last quarter. US Bancorp DE raised its stake in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the period. Townsquare Capital LLC acquired a new position in shares of Zai Lab in the 4th quarter valued at $243,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares during the period. Hedge funds and other institutional investors own 41.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZLAB shares. Bank of America reaffirmed a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Scotiabank started coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

Zai Lab Trading Up 0.5 %

NASDAQ:ZLAB traded up $0.18 during mid-day trading on Thursday, hitting $33.80. The company had a trading volume of 853,205 shares, compared to its average volume of 847,579. The business has a fifty day simple moving average of $33.17 and a 200-day simple moving average of $29.37. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -12.20 and a beta of 1.09. Zai Lab Limited has a 1 year low of $15.05 and a 1 year high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, research analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.

Insider Activity

In other Zai Lab news, CFO Yajing Chen sold 924 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $30,593.64. Following the transaction, the chief financial officer now directly owns 27,047 shares of the company's stock, valued at $895,526.17. This represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total value of $1,622,000.00. Following the transaction, the chief executive officer now owns 494,117 shares of the company's stock, valued at approximately $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by company 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.