Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,657,735 shares of the company's stock after selling 1,778,871 shares during the quarter. Wellington Management Group LLP owned about 6.07% of Zai Lab worth $174,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock worth $211,488,000 after buying an additional 2,232,507 shares during the period. Principal Financial Group Inc. acquired a new stake in Zai Lab in the 4th quarter valued at approximately $46,172,000. Clearbridge Investments LLC raised its position in Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after purchasing an additional 989,664 shares during the period. Allianz Asset Management GmbH lifted its stake in Zai Lab by 188.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after purchasing an additional 984,041 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Zai Lab by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock worth $22,045,000 after buying an additional 237,582 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Zai Lab

In related news, CEO Ying Du sold 50,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares in the company, valued at $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $479,661.12. Following the completion of the transaction, the insider now owns 14,328 shares in the company, valued at $472,537.44. This represents a 50.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 133,001 shares of company stock valued at $4,495,143. Insiders own 13.88% of the company's stock.

Analyst Ratings Changes

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

Zai Lab Stock Performance

ZLAB stock traded down $4.92 during mid-day trading on Friday, reaching $31.77. The company had a trading volume of 1,754,396 shares, compared to its average volume of 778,707. 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 market capitalization of $3.48 billion, a price-to-earnings ratio of -11.47 and a beta of 1.07. The firm has a fifty day simple moving average of $32.72 and a 200 day simple moving average of $28.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued 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). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. As a group, analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.

About Zai Lab

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.