Woodline Partners LP Has $46.09 Million Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Woodline Partners LP raised its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,759,797 shares of the company's stock after acquiring an additional 151,835 shares during the quarter. Woodline Partners LP owned about 1.61% of Zai Lab worth $46,089,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in Zai Lab in the fourth quarter valued at approximately $46,172,000. Raymond James Financial Inc. acquired a new stake in Zai Lab in the fourth quarter valued at approximately $1,032,000. Alberta Investment Management Corp lifted its stake in 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 acquiring an additional 69,740 shares during the last quarter. FMR LLC raised its position 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 valued at $143,403,000 after purchasing an additional 4,830,646 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Zai Lab in the fourth quarter valued at approximately $511,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Zai Lab Trading Up 6.7%

Shares of ZLAB stock opened at $32.99 on Tuesday. Zai Lab Limited has a 1 year low of $16.01 and a 1 year high of $39.77. The firm's fifty day simple moving average is $32.06 and its 200 day simple moving average is $29.69. The firm has a market capitalization of $3.64 billion, a P/E ratio of -11.91 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 46,389 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $28.09, for a total value of $1,303,067.01. Following the sale, the chief executive officer now owns 479,851 shares of the company's stock, valued at $13,479,014.59. The trade was a 8.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frazor Titus Edmondson III sold 1,874 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $62,048.14. Following the completion of the sale, the insider now directly owns 30,375 shares in the company, valued at $1,005,716.25. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,133 shares of company stock valued at $7,416,861. 4.96% of the stock is owned by company insiders.

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.

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