Geode Capital Management LLC Grows Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Geode Capital Management LLC boosted 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 55,520 shares of the company's stock after purchasing 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 filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Clearbridge Investments LLC lifted its holdings in shares of Zai Lab by 113.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after buying an additional 989,664 shares during the period. Principal Financial Group Inc. acquired a new stake in Zai Lab in the fourth quarter valued at $46,172,000. Allianz Asset Management GmbH grew its stake in shares of Zai Lab by 188.6% during the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after purchasing an additional 984,041 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Zai Lab by 39.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock valued at $22,045,000 after purchasing an additional 237,582 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its stake in shares of 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 purchasing an additional 69,740 shares during the period. Hedge funds and other institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Scotiabank started coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. 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. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.

Zai Lab Trading Up 0.1 %

Shares of NASDAQ ZLAB traded up $0.03 during trading on Friday, reaching $31.18. The company had a trading volume of 727,164 shares, compared to its average volume of 858,357. The stock has a market capitalization of $3.43 billion, a PE ratio of -11.26 and a beta of 1.04. Zai Lab Limited has a twelve month low of $15.80 and a twelve month high of $39.77. The stock has a 50-day moving average price of $33.20 and a two-hundred day moving average price of $29.70.

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). The firm had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, sell-side analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other Zai Lab news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total value of $1,622,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Yajing Chen sold 924 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $30,593.64. Following the sale, the chief financial officer now owns 27,047 shares of the company's stock, valued at approximately $895,526.17. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 138,744 shares of company stock valued at $4,685,294. Company insiders own 13.88% of the company's stock.

About Zai Lab

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.