Bank of America Corp DE Has $1.63 Million Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Bank of America Corp DE lessened its position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,114 shares of the company's stock after selling 39,564 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Zai Lab worth $1,627,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter worth about $31,000. Barclays PLC lifted its holdings 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 purchasing an additional 2,856 shares during the last quarter. US Bancorp DE boosted its position in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares during the period. Townsquare Capital LLC acquired a new position in Zai Lab during the fourth quarter valued at approximately $243,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Zai Lab in the fourth quarter valued at approximately $313,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

Insider Activity

In related news, CEO Ying Du sold 46,389 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $28.09, for a total transaction of $1,303,067.01. Following the completion of the transaction, the chief executive officer now directly owns 479,851 shares in the company, valued at $13,479,014.59. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the company'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 owns 30,834 shares of the company's stock, valued at $1,184,333.94. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,207 shares of company stock worth $3,880,239. 4.96% of the stock is currently owned by corporate insiders.

Zai Lab Stock Up 1.3%

NASDAQ ZLAB traded up $0.46 during trading on Thursday, reaching $36.54. 890,054 shares of the stock traded hands, compared to its average volume of 876,972. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -13.19 and a beta of 1.04. The stock's 50-day moving average price is $30.91 and its 200 day moving average price is $29.94. Zai Lab Limited has a fifty-two week low of $16.01 and a fifty-two week high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly 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. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. Analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Zai Lab

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.