Northern Trust Corp Purchases 26,700 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Northern Trust Corp grew its stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 117.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,365 shares of the company's stock after buying an additional 26,700 shares during the period. Northern Trust Corp's holdings in Zai Lab were worth $1,293,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after acquiring an additional 4,830,646 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Zai Lab by 30.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock valued at $61,653,000 after purchasing an additional 548,378 shares during the period. Clearbridge Investments LLC grew its position in shares of Zai Lab by 113.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after purchasing an additional 989,664 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Zai Lab in the fourth quarter worth $46,172,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Zai Lab by 188.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after purchasing an additional 984,041 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Stock Performance

ZLAB traded down $1.02 during trading on Friday, reaching $30.29. The stock had a trading volume of 626,776 shares, compared to its average volume of 871,693. The business has a 50-day moving average of $31.19 and a 200-day moving average of $29.75. 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 $3.34 billion, a PE ratio of -10.94 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. The firm had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Equities research analysts forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the transaction, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at approximately $16,029,155.48. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 170,589 shares of company stock worth $5,213,699 over the last ninety days. Insiders own 4.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ZLAB. JPMorgan Chase & Co. boosted their target price on 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 reiterated a "neutral" rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. 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 for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th.

Zai Lab Company Profile

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.