Schroder Investment Management Group Lowers Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

Schroder Investment Management Group reduced its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 61.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 91,504 shares of the company's stock after selling 147,363 shares during the quarter. Schroder Investment Management Group owned 0.08% of Zai Lab worth $2,422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZLAB. Principal Financial Group Inc. purchased a new position in shares of Zai Lab during the fourth quarter worth $46,172,000. Wellington Management Group LLP boosted its holdings in Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock valued at $203,660,000 after acquiring an additional 1,312,115 shares during the period. Allianz Asset Management GmbH grew its position in Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock valued at $39,442,000 after acquiring an additional 984,041 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Zai Lab by 39.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock valued at $22,045,000 after acquiring an additional 237,582 shares in the last quarter. Finally, Alberta Investment Management Corp increased its stake in Zai Lab by 42.9% during the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock worth $6,084,000 after purchasing an additional 69,740 shares during the period. Institutional investors and hedge funds own 41.65% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Zai Lab Stock Up 21.5 %

NASDAQ ZLAB traded up $5.22 on Friday, hitting $29.54. 3,044,626 shares of the stock were exchanged, compared to its average volume of 822,212. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $39.77. The company has a 50-day moving average price of $32.74 and a 200-day moving average price of $29.07. The company has a market cap of $3.24 billion, a PE ratio of -10.66 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to analyst estimates 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, equities research analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, CFO Yajing Chen sold 924 shares of Zai Lab stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $30,593.64. Following the sale, the chief financial officer now directly owns 27,047 shares in the company, valued at $895,526.17. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the transaction, the insider now owns 14,328 shares of the company's stock, valued at $472,537.44. This represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by 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.