Capital International Investors Buys 120,000 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Capital International Investors increased its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 82.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 264,986 shares of the company's stock after acquiring an additional 120,000 shares during the quarter. Capital International Investors owned approximately 0.24% of Zai Lab worth $6,940,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ZLAB. FMR LLC increased its stake in shares of Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after acquiring an additional 4,830,646 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after purchasing an additional 989,664 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Zai Lab in the fourth quarter worth $46,172,000. Allianz Asset Management GmbH lifted its stake in Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after acquiring an additional 984,041 shares in the last quarter. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Zai Lab by 96.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,045,837 shares of the company's stock worth $27,390,000 after purchasing an additional 513,383 shares during the period. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Stock Performance

NASDAQ ZLAB traded down $1.80 during trading hours on Friday, reaching $32.00. 1,671,388 shares of the company's stock were exchanged, compared to its average volume of 852,203. The company's 50-day moving average is $33.29 and its two-hundred day moving average is $29.47. Zai Lab Limited has a one year low of $15.65 and a one year high of $39.77. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -11.55 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Zai Lab

In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at $472,537.44. This represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Friday, February 28th. The shares were 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 approximately $17,032,212.99. This represents a 9.19 % 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 insiders.

Analysts Set New Price Targets

ZLAB has been the topic of several analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Bank of America reissued 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. Finally, Scotiabank began coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

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.