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

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

A number of other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Holding SA purchased a new stake in Zai Lab during the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares during the last quarter. Invesco Ltd. increased its holdings in Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after buying an additional 1,790 shares during the last quarter. Barclays PLC increased its holdings in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Zai Lab by 21.5% during the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after buying an additional 2,993 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Frazor Titus Edmondson III sold 1,874 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $62,048.14. Following the completion of the transaction, the insider now owns 30,375 shares in the company, valued at $1,005,716.25. This trade represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares in the company, valued at $16,029,155.48. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,744 shares of company stock worth $4,685,294 in the last three months. 13.88% of the stock is owned by company insiders.

Zai Lab Stock Performance

ZLAB opened at $29.24 on Monday. Zai Lab Limited has a fifty-two week low of $16.01 and a fifty-two week high of $39.77. The firm's fifty day moving average is $32.75 and its 200 day moving average is $29.75. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -10.56 and a beta of 1.04.

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

Wall Street Analyst Weigh In

ZLAB has been the topic of several recent research reports. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised 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, Scotiabank initiated coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the 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.

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