Envestnet Asset Management Inc. Acquires Shares of 37,278 Zai Lab Limited (NASDAQ:ZLAB)

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

Several other hedge funds and other institutional investors have also modified their holdings of ZLAB. Pictet Asset Management Holding SA purchased a new position in Zai Lab in the 4th quarter valued at about $31,000. US Bancorp DE boosted its holdings in shares of Zai Lab by 1,671.9% in the fourth 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after acquiring an additional 1,502 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Zai Lab during the fourth quarter valued at $313,000. Finally, Daiwa Securities Group Inc. raised its stake in Zai Lab by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock valued at $362,000 after purchasing an additional 4,276 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Trading Down 3.5 %

Shares of ZLAB stock traded down $1.02 during trading hours on Wednesday, hitting $28.36. 1,034,475 shares of the company were exchanged, compared to its average volume of 866,993. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77. The company has a market capitalization of $3.13 billion, a PE ratio of -10.24 and a beta of 1.04. The business has a 50 day moving average of $32.90 and a two-hundred day moving average of $29.76.

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 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 analyst estimates of $110.15 million. On average, research analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Yajing Chen sold 924 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $30,593.64. Following the transaction, the chief financial officer now owns 27,047 shares in the company, valued at approximately $895,526.17. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ZLAB. JPMorgan Chase & Co. lifted 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. Scotiabank began coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.

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.