Bridgefront Capital LLC Takes $296,000 Position in Zai Lab Limited (NASDAQ:ZLAB)

Bridgefront Capital LLC purchased a new stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,303 shares of the company's stock, valued at approximately $296,000.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC increased its holdings in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after buying an additional 4,830,646 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Zai Lab by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock worth $61,653,000 after buying an additional 548,378 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Zai Lab by 113.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after buying an additional 989,664 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Zai Lab during the 4th quarter valued at $46,172,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Zai Lab by 188.6% during the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock valued at $39,442,000 after purchasing an additional 984,041 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Zai Lab Price Performance

Zai Lab stock traded up $0.30 during trading hours on Monday, reaching $29.54. The stock had a trading volume of 612,573 shares, compared to its average volume of 852,783. The stock has a market cap of $3.26 billion, a PE ratio of -10.68 and a beta of 1.04. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77. The company has a fifty day simple moving average of $32.75 and a 200-day simple moving average of $29.75.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.12). The firm had revenue of $106.49 million during the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm'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 sale, the insider now owns 14,328 shares of the company's stock, valued at $472,537.44. This trade represents a 50.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ying Du sold 2,945 shares of Zai Lab stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $97,508.95. Following the sale, the chief executive officer now directly owns 479,851 shares in the company, valued at $15,887,866.61. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,744 shares of company stock valued at $4,685,294 in the last quarter. Insiders own 13.88% of the company's stock.

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.