Balyasny Asset Management L.P. decreased its position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 90.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,508 shares of the company's stock after selling 233,103 shares during the period. Balyasny Asset Management L.P.'s holdings in Zai Lab were worth $616,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of ZLAB. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab during the 4th quarter worth about $31,000. Barclays PLC grew its stake in 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 acquiring an additional 2,856 shares during the period. US Bancorp DE increased its holdings in shares of Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after acquiring an additional 5,534 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Zai Lab during the fourth quarter worth approximately $243,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after purchasing an additional 1,502 shares in the last quarter. Institutional investors own 41.65% of the company's stock.
Zai Lab Price Performance
Shares of NASDAQ ZLAB traded up $2.06 during midday trading on Monday, reaching $32.99. The company's stock had a trading volume of 887,450 shares, compared to its average volume of 862,248. The stock has a market capitalization of $3.64 billion, a P/E ratio of -11.91 and a beta of 1.04. The firm has a 50 day moving average price of $32.11 and a 200-day moving average price of $29.67. Zai Lab Limited has a 12-month low of $16.01 and a 12-month high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. The firm had revenue of $106.49 million during the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, equities analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ZLAB. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. 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 for the company. JPMorgan Chase & Co. increased their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.
Check Out Our Latest Research Report on ZLAB
Insider Activity
In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 235,133 shares of company stock valued at $7,416,861 in the last three months. Company insiders own 4.96% of the company's stock.
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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