Two Sigma Investments LP Trims Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Two Sigma Investments LP trimmed its position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,757 shares of the company's stock after selling 38,255 shares during the period. Two Sigma Investments LP's holdings in Zai Lab were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Zai Lab by 749.1% in the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock worth $143,403,000 after acquiring an additional 4,830,646 shares during the last quarter. RTW Investments LP purchased a new stake in shares of Zai Lab in the fourth quarter worth $65,714,000. Price T Rowe Associates Inc. MD grew its stake in shares of Zai Lab by 30.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company's stock worth $61,653,000 after acquiring an additional 548,378 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after acquiring an additional 989,664 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Zai Lab in the fourth quarter worth $46,172,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $38.11 on Friday. The company has a market cap of $4.20 billion, a P/E ratio of -13.76 and a beta of 0.96. Zai Lab Limited has a 1 year low of $16.01 and a 1 year high of $39.77. The stock's fifty day moving average price is $30.93 and its 200-day moving average price is $30.05.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its 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. 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 the consensus estimate of $118.40 million. On average, sell-side analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the stock in a transaction dated 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 owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frazor Titus Edmondson III sold 4,369 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total value of $156,803.41. Following the completion of the transaction, the insider now directly owns 27,217 shares in the company, valued at approximately $976,818.13. This represents a 13.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,207 shares of company stock valued at $3,880,239. 4.96% of the stock is owned by company insiders.

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.

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