Bank of America Corp DE trimmed its holdings 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 Securities and Exchange Commission (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 about 0.06% of Zai Lab worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. Pictet Asset Management Holding SA bought a new stake in Zai Lab during the 4th quarter valued at about $31,000. Barclays PLC increased its stake in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares in the last quarter. US Bancorp DE increased its stake in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after purchasing an additional 5,534 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Zai Lab in the fourth quarter worth approximately $243,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Zai Lab in the fourth quarter worth approximately $313,000. 41.65% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock. Bank of America reissued a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.
Check Out Our Latest Stock Analysis on ZLAB
Insider Buying and Selling
In other Zai Lab news, CEO Ying Du sold 5,808 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $208,449.12. Following the transaction, the chief executive officer now owns 476,046 shares in the company, valued at $17,085,290.94. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frazor Titus Edmondson III sold 4,369 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $156,803.41. Following the transaction, the insider now owns 27,217 shares in the company, valued at $976,818.13. This trade represents a 13.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,207 shares of company stock worth $3,880,239. Insiders own 4.96% of the company's stock.
Zai Lab Price Performance
Shares of ZLAB stock traded up $1.57 during mid-day trading on Friday, hitting $38.11. The company had a trading volume of 1,056,017 shares, compared to its average volume of 880,579. Zai Lab Limited has a 52-week low of $16.01 and a 52-week high of $39.77. The stock's 50 day moving average price is $30.93 and its 200-day moving average price is $30.08. The company has a market capitalization of $4.20 billion, a P/E ratio of -13.76 and a beta of 0.96.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $118.40 million. On average, equities research analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current year.
About Zai Lab
(
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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