Geode Capital Management LLC Increases Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

Geode Capital Management LLC lifted its position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,520 shares of the company's stock after buying an additional 11,894 shares during the period. Geode Capital Management LLC owned about 0.05% of Zai Lab worth $1,454,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in shares of Zai Lab during the fourth quarter worth about $46,172,000. Raymond James Financial Inc. acquired a new position in Zai Lab during the fourth quarter worth approximately $1,032,000. Alberta Investment Management Corp raised its stake in Zai Lab by 42.9% in the 4th 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 period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Zai Lab by 28.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock worth $4,801,000 after buying an additional 41,128 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Zai Lab in the 4th quarter valued at about $511,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. 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 report on Thursday, March 13th. Scotiabank started coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company. Finally, Bank of America reaffirmed a "neutral" rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Trading Down 5.1 %

ZLAB stock traded down $1.57 during midday trading on Tuesday, hitting $29.38. The stock had a trading volume of 1,446,571 shares, compared to its average volume of 864,391. The business has a fifty day moving average price of $33.02 and a two-hundred day moving average price of $29.77. Zai Lab Limited has a 1-year low of $16.01 and a 1-year high of $39.77. The firm has a market cap of $3.24 billion, a P/E ratio of -10.61 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The company had revenue of $109.07 million for the quarter, compared to analyst estimates of $110.15 million. On average, equities analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the sale, the chief executive officer now owns 494,117 shares in the company, valued at $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock valued at $4,685,294 over the last ninety days. 13.88% 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.