FIL Ltd Has $2.93 Million Position in Zai Lab Limited (NASDAQ:ZLAB)

FIL Ltd decreased its stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,713 shares of the company's stock after selling 14,228 shares during the period. FIL Ltd owned 0.10% of Zai Lab worth $2,926,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Zai Lab during the fourth quarter worth approximately $46,172,000. Raymond James Financial Inc. bought a new stake in shares of Zai Lab in the 4th quarter worth about $1,032,000. Geode Capital Management LLC lifted its position in shares of Zai Lab by 26.4% during the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock worth $1,053,000 after purchasing an additional 9,107 shares during the last quarter. Alberta Investment Management Corp grew its stake in Zai Lab by 42.9% in the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock worth $6,084,000 after purchasing an additional 69,740 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Zai Lab by 28.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock valued at $4,801,000 after buying an additional 41,128 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZLAB. JPMorgan Chase & Co. lifted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Bank of America restated a "neutral" rating and set a $36.10 price objective (up 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. Finally, Scotiabank started coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company.

Insiders Place Their Bets

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. This represents a 50.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rafael Amado sold 3,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is currently owned by corporate insiders.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB traded down $0.09 during midday trading on Friday, hitting $28.84. The company's stock had a trading volume of 778,491 shares, compared to its average volume of 838,609. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $39.77. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -10.41 and a beta of 1.09. The stock's 50 day simple moving average is $32.94 and its 200 day simple moving average is $29.21.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share 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 the consensus estimate of $110.15 million. As a group, analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.

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.