Janus Henderson Group PLC Lowers Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Janus Henderson Group PLC cut its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,567,892 shares of the company's stock after selling 2,192,182 shares during the period. Janus Henderson Group PLC owned about 6.00% of Zai Lab worth $171,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ZLAB. Jasper Ridge Partners L.P. bought a new position in shares of Zai Lab in the 4th quarter worth $210,000. D. E. Shaw & Co. Inc. raised its position in shares of Zai Lab by 222.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 73,412 shares of the company's stock worth $1,923,000 after acquiring an additional 133,563 shares in the last quarter. Bridgefront Capital LLC bought a new position in shares of Zai Lab in the 4th quarter worth $296,000. Bayesian Capital Management LP bought a new position in shares of Zai Lab in the 4th quarter worth $405,000. Finally, Bellevue Group AG bought a new position in shares of Zai Lab in the 4th quarter worth $340,000. 41.65% of the stock is owned by institutional investors.

Zai Lab Stock Performance

ZLAB stock traded up $2.18 on Friday, hitting $30.93. 1,014,184 shares of the company's stock were exchanged, compared to its average volume of 860,553. Zai Lab Limited has a 12-month low of $16.01 and a 12-month high of $39.77. The firm has a 50 day moving average price of $32.11 and a two-hundred day moving average price of $29.69. The stock has a market cap of $3.41 billion, a P/E ratio of -11.17 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 for the quarter, topping the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. Sell-side analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 46,389 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $28.09, for a total transaction of $1,303,067.01. Following the sale, the chief executive officer now owns 479,851 shares in the company, valued at approximately $13,479,014.59. The trade was a 8.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Yajing Chen sold 5,280 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total value of $189,499.20. Following the sale, the chief financial officer now owns 25,471 shares in the company, valued at approximately $914,154.19. The trade was a 17.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,133 shares of company stock worth $7,416,861 in the last ninety days. 4.96% of the stock is owned by insiders.

Zai Lab Company 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.