Russell Investments Group Ltd. decreased its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,694 shares of the company's stock after selling 25,938 shares during the period. Russell Investments Group Ltd. owned 0.21% of Zai Lab worth $6,068,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. acquired a new position in Zai Lab in the 4th quarter valued at $976,000. Wells Fargo & Company MN lifted its holdings in shares of Zai Lab by 8,090.8% in the 4th quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock valued at $1,073,000 after buying an additional 40,454 shares during the period. Geode Capital Management LLC grew its holdings in Zai Lab by 27.3% during the fourth quarter. Geode Capital Management LLC now owns 55,520 shares of the company's stock worth $1,454,000 after acquiring an additional 11,894 shares during the period. Clearbridge Investments LLC boosted its position in shares of Zai Lab by 113.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after purchasing an additional 989,664 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in Zai Lab during the fourth quarter worth about $313,000. 41.65% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares in the company, valued at approximately $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now directly owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,744 shares of company stock worth $4,685,294 over the last three months. 13.88% of the stock is owned by insiders.
Zai Lab Price Performance
ZLAB stock traded down $1.14 during midday trading on Tuesday, hitting $30.38. The stock had a trading volume of 1,687,726 shares, compared to its average volume of 833,536. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $39.77. The firm has a market cap of $3.33 billion, a PE ratio of -10.97 and a beta of 1.09. The company's 50-day moving average price is $32.83 and its 200 day moving average price is $29.17.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The business had revenue of $109.07 million for the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, sell-side analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Finally, Bank of America reiterated a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
Read Our Latest Research Report on Zai Lab
Zai Lab Company Profile
(
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.
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