Bayesian Capital Management LP Acquires Shares of 15,469 Zai Lab Limited (NASDAQ:ZLAB)

Bayesian Capital Management LP acquired a new stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 15,469 shares of the company's stock, valued at approximately $405,000.

Several other large investors have also added to or reduced their stakes in the stock. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab during the 4th quarter valued at about $31,000. Barclays PLC grew its position in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after acquiring an additional 2,856 shares during the last quarter. US Bancorp DE grew its position in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after acquiring an additional 5,534 shares during the last quarter. Townsquare Capital LLC bought a new position in Zai Lab during the 4th quarter worth approximately $243,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after acquiring an additional 1,502 shares during the last quarter. Institutional investors own 41.65% of the company's stock.

Insider Transactions at Zai Lab

In other Zai Lab 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 directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the company's 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 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. Insiders sold 138,744 shares of company stock valued at $4,685,294 in the last quarter. 13.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Zai Lab Stock Performance

ZLAB traded down $0.88 during trading on Tuesday, hitting $28.52. 315,654 shares of the stock were exchanged, compared to its average volume of 852,526. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -10.30 and a beta of 1.04. The firm has a 50 day simple moving average of $32.62 and a 200 day simple moving average of $29.73. Zai Lab Limited has a 1 year low of $16.01 and a 1 year 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 business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, equities analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal 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.