Zai Lab Limited (NASDAQ:ZLAB) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 1,439.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,755 shares of the company's stock after purchasing an additional 18,472 shares during the quarter. BNP Paribas Financial Markets' holdings in Zai Lab were worth $517,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. grew its position 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 last quarter. Invesco Ltd. grew its position in shares of Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after purchasing an additional 1,790 shares during the last quarter. Barclays PLC grew its position in shares of Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after purchasing an additional 2,856 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Zai Lab by 21.5% during 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. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZLAB has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their target price 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 target price (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. 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 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th.

Insiders Place Their Bets

In other news, CEO Ying Du sold 46,389 shares of the firm'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 owns 479,851 shares of the company's stock, valued at approximately $13,479,014.59. This trade represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the transaction, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. This represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,133 shares of company stock valued at $7,416,861 over the last quarter. Company insiders own 4.96% of the company's stock.

Zai Lab Price Performance

NASDAQ:ZLAB traded down $0.70 during trading hours on Wednesday, reaching $30.32. 226,871 shares of the company were exchanged, compared to its average volume of 868,383. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -10.97 and a beta of 1.04. Zai Lab Limited has a 52-week low of $16.01 and a 52-week high of $39.77. The stock has a 50 day simple moving average of $31.37 and a 200 day simple moving average of $29.75.

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

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.