Legacy Wealth Asset Management LLC acquired a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,285 shares of the company's stock, valued at approximately $805,000.
A number of other institutional investors also recently modified their holdings of ZLAB. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the fourth quarter worth $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the 4th quarter valued at about $31,000. Barclays PLC grew its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares during the period. US Bancorp DE increased its position in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after buying an additional 5,534 shares in the last quarter. Finally, Jasper Ridge Partners L.P. bought a new stake in shares of Zai Lab during the fourth quarter valued at approximately $210,000. 41.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently commented on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. Bank of America reiterated a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th.
View Our Latest Research Report on ZLAB
Insider Buying and Selling at Zai Lab
In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $28.57, for a total transaction of $1,428,500.00. Following the transaction, the chief executive officer now directly owns 479,851 shares of the company's stock, valued at $13,709,343.07. This represents a 9.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frazor Titus Edmondson III sold 4,369 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $156,803.41. Following the sale, the insider now directly owns 27,217 shares of the company's stock, valued at $976,818.13. The trade was a 13.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,589 shares of company stock worth $3,591,699. 4.96% of the stock is owned by corporate insiders.
Zai Lab Stock Up 15.8%
Shares of NASDAQ ZLAB traded up $4.93 during midday trading on Wednesday, reaching $36.06. The company had a trading volume of 1,704,341 shares, compared to its average volume of 874,644. Zai Lab Limited has a one year low of $16.01 and a one year high of $39.77. The stock has a market cap of $3.98 billion, a PE ratio of -13.02 and a beta of 1.04. The firm's fifty day moving average price is $30.93 and its 200-day moving average price is $29.82.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data 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. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. As a group, equities research analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.
Zai Lab Company Profile
(
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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