Northern Trust Corp Has $1.29 Million Position in Zai Lab Limited (NASDAQ:ZLAB)

Northern Trust Corp lifted its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 117.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,365 shares of the company's stock after purchasing an additional 26,700 shares during the quarter. Northern Trust Corp's holdings in Zai Lab were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of Zai Lab by 32.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 160,378 shares of the company's stock worth $4,200,000 after buying an additional 39,294 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Zai Lab by 30.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock worth $61,653,000 after buying an additional 548,378 shares during the period. Hsbc Holdings PLC bought a new position in shares of Zai Lab during the 4th quarter worth approximately $493,000. B Group Inc. bought a new position in Zai Lab in the 4th quarter valued at $10,476,000. Finally, Capital International Investors raised its position in Zai Lab by 82.8% in the 4th quarter. Capital International Investors now owns 264,986 shares of the company's stock valued at $6,940,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $28.57, for a total value of $1,428,500.00. Following the completion of the transaction, the chief executive officer now directly owns 479,851 shares of the company's stock, valued at approximately $13,709,343.07. The trade was a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Yajing Chen sold 924 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $30,593.64. Following the completion of the transaction, the chief financial officer now directly owns 27,047 shares of the company's stock, valued at approximately $895,526.17. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,589 shares of company stock valued at $5,213,699 over the last three months. Company insiders own 4.96% of the company's stock.

Zai Lab Price Performance

Shares of ZLAB stock traded down $1.02 on Friday, reaching $30.29. 626,776 shares of the stock were exchanged, compared to its average volume of 868,280. The stock has a market cap of $3.34 billion, a PE ratio of -10.94 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 stock has a 50 day moving average price of $31.08 and a 200 day moving average price of $29.78.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, research analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Scotiabank assumed coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. 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, Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report 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.