43,178 Shares in Zai Lab Limited (NASDAQ:ZLAB) Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC purchased a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,178 shares of the company's stock, valued at approximately $1,130,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA purchased a new position in Zai Lab in the fourth quarter worth approximately $31,000. China Universal Asset Management Co. Ltd. lifted its stake in 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 worth $290,000 after acquiring an additional 1,502 shares during the last quarter. Invesco Ltd. lifted its stake in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after acquiring an additional 1,790 shares during the last quarter. Barclays PLC lifted its stake in Zai Lab by 337.6% in the fourth 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. Finally, Bank of Montreal Can lifted its stake in Zai Lab by 21.5% in the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock worth $442,000 after acquiring an additional 2,993 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Trading Up 6.7%

Shares of NASDAQ:ZLAB opened at $32.99 on Tuesday. The firm has a 50 day simple moving average of $32.06 and a 200-day simple moving average of $29.69. The company has a market capitalization of $3.64 billion, a PE ratio of -11.91 and a beta of 1.04. Zai Lab Limited has a twelve month low of $16.01 and a twelve month high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.05. The business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, equities research analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZLAB has been the subject of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Bank of America restated a "neutral" rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank initiated coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company.

Insider Activity

In other Zai Lab news, CEO Ying Du sold 46,389 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $28.09, for a total value of $1,303,067.01. Following the transaction, the chief executive officer now directly owns 479,851 shares of the company's stock, valued at approximately $13,479,014.59. The trade was a 8.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Yajing Chen sold 924 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 transaction of $30,593.64. Following the completion of the transaction, the chief financial officer now directly owns 27,047 shares in the company, valued at $895,526.17. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 235,133 shares of company stock valued at $7,416,861 in the last ninety days. 4.96% of the stock is currently owned by company insiders.

Zai Lab Company 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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