Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lessened its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 56.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,757 shares of the company's stock after selling 38,255 shares during the quarter. Two Sigma Investments LP's holdings in Zai Lab were worth $779,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new stake in Zai Lab in the fourth quarter worth $46,172,000. Raymond James Financial Inc. bought a new stake in Zai Lab during the fourth quarter valued at $1,032,000. Alberta Investment Management Corp lifted its stake in Zai Lab by 42.9% during the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock worth $6,084,000 after purchasing an additional 69,740 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Zai Lab by 1,439.8% in the 4th quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company's stock valued at $517,000 after acquiring an additional 18,472 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Zai Lab by 749.1% in the 4th 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 during the last quarter. Institutional investors own 41.65% of the company's stock.

Zai Lab Stock Performance

Shares of ZLAB stock traded up $1.40 on Wednesday, reaching $41.40. The stock had a trading volume of 1,561,198 shares, compared to its average volume of 887,935. The stock has a market cap of $4.57 billion, a P/E ratio of -14.95 and a beta of 0.96. Zai Lab Limited has a 1 year low of $16.01 and a 1 year high of $41.44. The company has a 50 day simple moving average of $31.22 and a 200 day simple moving average of $30.31.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping 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 company had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. On average, equities research analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the firm'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 owns 30,834 shares of the company's stock, valued at $1,184,333.94. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ying Du sold 5,808 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $208,449.12. Following the completion of the sale, the chief executive officer now directly owns 476,046 shares of the company's stock, valued at approximately $17,085,290.94. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,207 shares of company stock valued at $3,880,239 over the last ninety days. 4.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ZLAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Scotiabank assumed coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock. Bank of America restated a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their target price on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th.

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.