XTX Topco Ltd lessened its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 57.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,487 shares of the company's stock after selling 18,131 shares during the period. XTX Topco Ltd's holdings in Zai Lab were worth $353,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab during the 4th quarter worth $31,000. Barclays PLC lifted its stake in shares of Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares during the period. US Bancorp DE boosted its holdings 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 buying an additional 5,534 shares in the last quarter. Townsquare Capital LLC acquired a new position in Zai Lab during the fourth quarter worth about $243,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 15.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently commented on ZLAB. Scotiabank started coverage on Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. Bank of America reiterated a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th.
Get Our Latest Stock Report on ZLAB
Zai Lab Stock Performance
ZLAB stock traded down $1.80 on Friday, reaching $32.00. The company had a trading volume of 1,671,388 shares, compared to its average volume of 854,161. The company's fifty day moving average is $33.29 and its 200 day moving average is $29.50. The company has a market cap of $3.52 billion, a P/E ratio of -11.55 and a beta of 1.09. Zai Lab Limited has a 1 year low of $15.67 and a 1 year high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted 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). The company 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%. On average, sell-side analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Activity at Zai Lab
In other news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the transaction, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by insiders.
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.
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