Squarepoint Ops LLC Takes $732,000 Position in Zai Lab Limited (NASDAQ:ZLAB)

Squarepoint Ops LLC acquired a new stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 27,961 shares of the company's stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also modified their holdings of ZLAB. Principal Financial Group Inc. acquired a new position in Zai Lab in the 4th quarter worth $46,172,000. Raymond James Financial Inc. bought a new stake in shares of Zai Lab in the fourth quarter valued at about $1,032,000. Alberta Investment Management Corp lifted its holdings in shares of Zai Lab by 42.9% in the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock valued at $6,084,000 after purchasing an additional 69,740 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Zai Lab by 1,439.8% during the fourth quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock worth $517,000 after buying an additional 18,472 shares during the period. Finally, FMR LLC boosted its position in shares of Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after buying an additional 4,830,646 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total value of $1,428,500.00. Following the completion of the sale, the chief executive officer now directly owns 479,851 shares in the company, valued at approximately $13,709,343.07. This trade represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was 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. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,207 shares of company stock valued at $3,880,239. 4.96% of the stock is owned by insiders.

Zai Lab Stock Up 4.3%

Shares of NASDAQ:ZLAB traded up $1.57 during midday trading on Friday, reaching $38.11. The company had a trading volume of 1,056,017 shares, compared to its average volume of 879,311. Zai Lab Limited has a 1-year low of $16.01 and a 1-year high of $39.77. The stock has a market cap of $4.20 billion, a PE ratio of -13.76 and a beta of 0.96. The business's 50 day moving average price is $30.93 and its 200 day moving average price is $30.03.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.05. The firm 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.

Analysts Set New Price Targets

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

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.