Hsbc Holdings PLC Buys Shares of 18,840 Zai Lab Limited (NASDAQ:ZLAB)

Hsbc Holdings PLC purchased a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,840 shares of the company's stock, valued at approximately $493,000.

Several other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after buying an additional 4,830,646 shares during the last quarter. Clearbridge Investments LLC increased its stake 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 worth $48,788,000 after purchasing an additional 989,664 shares in the last quarter. Principal Financial Group Inc. bought a new position in Zai Lab in the 4th quarter worth $46,172,000. Allianz Asset Management GmbH lifted its position in Zai Lab by 188.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock valued at $39,442,000 after purchasing an additional 984,041 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its holdings in Zai Lab by 96.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,045,837 shares of the company's stock valued at $27,390,000 after purchasing an additional 513,383 shares during the period. Institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Bank of America restated a "neutral" rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price for the company.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the sale, the insider now directly owns 30,834 shares of the company's stock, valued at $1,184,333.94. The trade was a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the sale, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,744 shares of company stock valued at $4,685,294. Insiders own 13.88% of the company's stock.

Zai Lab Price Performance

Shares of ZLAB opened at $29.38 on Wednesday. Zai Lab Limited has a 1 year low of $16.01 and a 1 year high of $39.77. The company has a 50 day simple moving average of $33.02 and a two-hundred day simple moving average of $29.77. 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 announced its quarterly 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 company had revenue of $109.07 million during the quarter, compared to the consensus estimate 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 anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.

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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