Zai Lab Limited (NASDAQ:ZLAB) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 112.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,800 shares of the company's stock after buying an additional 99,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of Zai Lab worth $4,918,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab in the 4th quarter worth $31,000. China Universal Asset Management Co. Ltd. grew its stake 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 purchasing an additional 1,502 shares during the last quarter. Invesco Ltd. raised its holdings in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after purchasing an additional 1,790 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Zai Lab by 21.5% during the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after buying an additional 2,993 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Zai Lab by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock valued at $362,000 after buying an additional 4,276 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Price Performance

Zai Lab stock traded up $0.19 during trading hours on Thursday, hitting $33.81. 680,424 shares of the stock traded hands, compared to its average volume of 1,084,972. Zai Lab Limited has a 1 year low of $15.05 and a 1 year high of $39.77. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -12.21 and a beta of 1.09. The firm's 50 day moving average price is $33.17 and its 200-day moving average price is $29.37.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $110.15 million. Research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at $17,032,212.99. This represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock worth $4,685,294 over the last 90 days. 13.88% of the stock is currently owned by company 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.