Fmr LLC Buys 4,830,646 Shares of Zai Lab Limited (NASDAQ:ZLAB)

FMR LLC grew its stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 749.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,475,505 shares of the company's stock after buying an additional 4,830,646 shares during the period. FMR LLC owned approximately 5.00% of Zai Lab worth $143,403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new stake in Zai Lab in the fourth quarter valued at approximately $976,000. Wells Fargo & Company MN lifted its holdings in Zai Lab by 8,090.8% during the fourth quarter. Wells Fargo & Company MN now owns 40,954 shares of the company's stock worth $1,073,000 after acquiring an additional 40,454 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Zai Lab by 27.3% in 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 in the last quarter. Clearbridge Investments LLC raised its position in shares of Zai Lab by 113.3% during the fourth 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 during the period. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Zai Lab in the 4th quarter valued at approximately $313,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Stock Down 4.8 %

Shares of NASDAQ:ZLAB traded down $1.45 during midday trading on Wednesday, reaching $28.93. The company had a trading volume of 1,291,906 shares, compared to its average volume of 835,362. The business's 50 day moving average price is $32.88 and its 200 day moving average price is $29.18. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $39.77. The stock has a market cap of $3.17 billion, a PE ratio of -10.44 and a beta of 1.09.

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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). 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 the consensus estimate of $110.15 million. On average, research analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $479,661.12. Following the completion of the transaction, the insider now directly owns 14,328 shares in the company, valued at approximately $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 ninety days, insiders have sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Zai Lab 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.