Twinbeech Capital LP Makes New Investment in Zai Lab Limited (NASDAQ:ZLAB)

Twinbeech Capital LP acquired a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,039 shares of the company's stock, valued at approximately $708,000.

Other hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $31,000. Barclays PLC increased its holdings in shares of 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 in the last quarter. US Bancorp DE increased its holdings in shares of 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 in the last quarter. Jasper Ridge Partners L.P. acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $210,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Zai Lab in the fourth quarter valued at approximately $243,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Price Performance

Shares of NASDAQ ZLAB traded down $0.32 during midday trading on Tuesday, reaching $31.00. 568,459 shares of the stock were exchanged, compared to its average volume of 865,853. The business has a 50-day simple moving average of $31.50 and a two-hundred day simple moving average of $29.74. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -11.20 and a beta of 1.04. Zai Lab Limited has a 12 month low of $16.01 and a 12 month high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted 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 business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Equities research analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the sale, the insider now directly owns 14,328 shares of the company's stock, valued at $472,537.44. The trade was a 50.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,133 shares of company stock valued at $7,416,861. 4.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ZLAB shares. JPMorgan Chase & Co. raised their price target on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank assumed 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 objective on the stock. 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.