Point72 Asset Management L.P. Purchases 270,136 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Point72 Asset Management L.P. boosted its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 2,006.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,600 shares of the company's stock after buying an additional 270,136 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.26% of Zai Lab worth $7,427,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ZLAB. Pictet Asset Management Holding SA bought a new position in Zai Lab in the fourth quarter valued at about $31,000. Barclays PLC raised its position in 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. US Bancorp DE raised its position in Zai Lab by 1,671.9% in the fourth 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 last quarter. Jasper Ridge Partners L.P. bought a new position in Zai Lab in the fourth quarter valued at about $210,000. Finally, Townsquare Capital LLC bought a new position in Zai Lab in the fourth quarter valued at about $243,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective 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 restated a "neutral" rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Scotiabank started coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company.

Zai Lab Trading Down 3.6%

ZLAB stock traded down $1.18 during mid-day trading on Friday, reaching $31.32. The company's stock had a trading volume of 1,024,393 shares, compared to its average volume of 866,995. Zai Lab Limited has a 12 month low of $16.01 and a 12 month high of $39.77. The business's 50 day moving average price is $31.63 and its 200 day moving average price is $29.73. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -11.31 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 analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. As a group, equities analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In related news, CFO Yajing Chen sold 924 shares of Zai Lab stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $30,593.64. Following the transaction, the chief financial officer now owns 27,047 shares of the company's stock, valued at $895,526.17. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the transaction, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,133 shares of company stock valued at $7,416,861. Company insiders own 4.96% of the company's stock.

Zai Lab 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.