Cubist Systematic Strategies LLC Sells 23,731 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Cubist Systematic Strategies LLC cut its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,619 shares of the company's stock after selling 23,731 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of Zai Lab worth $1,902,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ZLAB. FMR LLC increased its position in Zai Lab by 749.1% in the fourth 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 period. Principal Financial Group Inc. acquired a new position in shares of Zai Lab during the fourth quarter valued at $46,172,000. RA Capital Management L.P. acquired a new position in shares of Zai Lab during the fourth quarter valued at $33,917,000. Clearbridge Investments LLC lifted its holdings in Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after purchasing an additional 989,664 shares during the period. Finally, Allianz Asset Management GmbH grew its position 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 valued at $39,442,000 after buying an additional 984,041 shares in the last quarter. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Stock Up 7.6%

Zai Lab stock traded up $2.18 during trading hours on Friday, hitting $30.93. 1,014,184 shares of the company traded hands, compared to its average volume of 862,146. The firm's 50-day simple moving average is $32.11 and its two-hundred day simple moving average is $29.68. The firm has a market cap of $3.41 billion, a P/E ratio of -11.17 and a beta of 1.04. 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 quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.05. The company had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, equities research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were 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 in the company, valued at $17,032,212.99. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the transaction, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. The trade was a 50.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 235,133 shares of company stock valued at $7,416,861 in the last quarter. Insiders own 4.96% of the company's stock.

Zai Lab Company 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.