Envestnet Asset Management Inc. Buys New Shares in Zai Lab Limited (NASDAQ:ZLAB)

Envestnet Asset Management Inc. bought a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 37,278 shares of the company's stock, valued at approximately $976,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZLAB. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. US Bancorp DE raised its stake in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after acquiring an additional 5,534 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 15.7% in 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 in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Zai Lab during the fourth quarter worth about $313,000. Finally, Daiwa Securities Group Inc. boosted its position in Zai Lab by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock valued at $362,000 after buying an additional 4,276 shares during the period. Institutional investors and hedge funds own 41.65% of the company's stock.

Analysts Set New Price Targets

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

Zai Lab Trading Down 1.7 %

Shares of ZLAB opened at $31.15 on Friday. Zai Lab Limited has a 12-month low of $15.80 and a 12-month high of $39.77. The stock has a market cap of $3.43 billion, a P/E ratio of -11.25 and a beta of 1.09. The company has a 50-day moving average of $33.26 and a two-hundred day moving average of $29.66.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. As a group, analysts forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Transactions at Zai Lab

In related news, insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the transaction, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Yajing Chen sold 924 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $30,593.64. Following the sale, the chief financial officer now directly owns 27,047 shares of the company's stock, valued at approximately $895,526.17. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,744 shares of company stock valued at $4,685,294. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.