Zurcher Kantonalbank Zurich Cantonalbank Buys New Shares in Zai Lab Limited (NASDAQ:ZLAB)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 63,909 shares of the company's stock, valued at approximately $1,674,000. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Zai Lab as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ZLAB. Janus Henderson Group PLC increased its position 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 position in Zai Lab during the fourth quarter worth approximately $46,172,000. Wellington Management Group LLP increased its position in Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock worth $203,660,000 after buying an additional 1,312,115 shares during the period. Allianz Asset Management GmbH increased its position 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 buying an additional 984,041 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Zai Lab by 26.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company's stock worth $14,584,000 after buying an additional 125,532 shares during the period. Institutional investors and hedge funds own 41.65% of the company's stock.

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Insider Buying and Selling

In other news, insider Rafael Amado sold 7,583 shares of the business's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now directly owns 33,834 shares of the company's stock, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at approximately $17,032,212.99. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,127 shares of company stock valued at $4,139,672. 13.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ZLAB. Scotiabank began coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. lifted 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. Cantor Fitzgerald upgraded Zai Lab to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Stock Down 6.0 %

Shares of Zai Lab stock traded down $2.24 during trading on Friday, reaching $35.09. The company's stock had a trading volume of 812,417 shares, compared to its average volume of 752,033. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $39.61. The company has a market capitalization of $3.85 billion, a P/E ratio of -12.67 and a beta of 1.08. The business has a 50 day moving average price of $30.51 and a 200-day moving average price of $27.59.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. Research analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

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.