Vestal Point Capital LP Purchases Shares of 300,000 Zai Lab Limited (NASDAQ:ZLAB)

Vestal Point Capital LP purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 300,000 shares of the company's stock, valued at approximately $7,857,000. Vestal Point Capital LP owned 0.27% of Zai Lab as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pictet Asset Management Holding SA bought a new stake in shares of Zai Lab during the 4th quarter worth about $31,000. Barclays PLC lifted its holdings in Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares during the last quarter. US Bancorp DE boosted its position in shares of Zai Lab by 1,671.9% during the 4th 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 position in shares of Zai Lab in the 4th quarter worth approximately $210,000. Finally, Townsquare Capital LLC acquired a new position in shares of Zai Lab in the 4th quarter worth approximately $243,000. Institutional investors own 41.65% of the company's stock.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares in the company, valued at approximately $1,184,333.94. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,133 shares of company stock valued at $7,416,861 in the last ninety days. Company insiders own 4.96% of the company's stock.

Zai Lab Stock Down 0.3%

ZLAB stock traded down $0.09 during mid-day trading on Thursday, reaching $32.50. 603,714 shares of the stock traded hands, compared to its average volume of 865,273. The firm has a market capitalization of $3.59 billion, a PE ratio of -11.73 and a beta of 1.04. The business has a 50-day moving average of $31.76 and a two-hundred day moving average of $29.74. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.05. The company had revenue of $106.49 million for 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, equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZLAB. 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 report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Finally, 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 report on Monday, March 3rd.

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.