Eversept Partners LP reduced its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 23.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,930 shares of the company's stock after selling 32,289 shares during the quarter. Eversept Partners LP owned about 0.09% of Zai Lab worth $2,696,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab during the fourth quarter worth $31,000. Barclays PLC raised its stake in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after acquiring an additional 2,856 shares during the last quarter. US Bancorp DE lifted its position in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after acquiring an additional 5,534 shares during the period. Townsquare Capital LLC purchased a new stake in Zai Lab during the 4th quarter valued at about $243,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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 purchasing an additional 1,502 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZLAB has been the subject of a number of research reports. Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price for the company. JPMorgan Chase & Co. lifted their price objective 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. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Bank of America restated a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
View Our Latest Stock Analysis on Zai Lab
Insider Activity
In related news, CEO Ying Du sold 2,945 shares of the business'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 $97,508.95. Following the completion of the sale, the chief executive officer now owns 479,851 shares of the company's stock, valued at approximately $15,887,866.61. The trade was a 0.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Yajing Chen sold 924 shares of the business'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 $30,593.64. Following the sale, the chief financial officer now directly owns 27,047 shares of the company's stock, valued at $895,526.17. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock worth $4,685,294 in the last ninety days. Company insiders own 13.88% of the company's stock.
Zai Lab Trading Down 5.3 %
Zai Lab stock traded down $1.80 during mid-day trading on Friday, hitting $32.00. The company had a trading volume of 1,671,388 shares, compared to its average volume of 854,161. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -11.55 and a beta of 1.09. Zai Lab Limited has a 12-month low of $15.67 and a 12-month high of $39.77. The company's fifty day moving average is $33.29 and its 200-day moving average is $29.53.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, sell-side analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Zai Lab Company Profile
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Free Report)
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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