Millennium Management LLC reduced its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,387 shares of the company's stock after selling 15,023 shares during the quarter. Millennium Management LLC owned 0.11% of Zai Lab worth $3,232,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA acquired a new stake in Zai Lab during the 4th quarter valued at $31,000. Barclays PLC raised 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 during the period. US Bancorp DE raised 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 during the period. Jasper Ridge Partners L.P. acquired a new stake in Zai Lab during the 4th quarter valued at $210,000. Finally, Townsquare Capital LLC acquired a new position in shares of Zai Lab in the fourth quarter worth $243,000. 41.65% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Zai Lab
In related news, CFO Yajing Chen sold 9,618 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $30.00, for a total value of $288,540.00. Following the completion of the sale, the chief financial officer now owns 17,429 shares in the company, valued at approximately $522,870. This trade represents a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ying Du sold 5,808 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $208,449.12. Following the completion of the transaction, the chief executive officer now directly owns 476,046 shares of the company's stock, valued at $17,085,290.94. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,207 shares of company stock worth $3,880,239 over the last ninety days. Company insiders own 4.96% of the company's stock.
Zai Lab Price Performance
NASDAQ:ZLAB traded up $4.95 during trading hours on Wednesday, reaching $36.08. The company's stock had a trading volume of 2,024,059 shares, compared to its average volume of 874,987. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -13.03 and a beta of 1.04. Zai Lab Limited has a one year low of $16.01 and a one year high of $39.77. The business's 50-day moving average is $30.91 and its 200-day moving average is $29.86.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (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 company had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. On average, sell-side analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on ZLAB shares. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. upped 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. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank started coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.
View Our Latest Analysis on Zai Lab
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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