Legal & General Group Plc Decreases Position in Zai Lab Limited (NASDAQ:ZLAB)

Legal & General Group Plc lessened its holdings in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,727 shares of the company's stock after selling 19,623 shares during the quarter. Legal & General Group Plc owned approximately 0.08% of Zai Lab worth $2,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab during the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. increased its position in Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after buying an additional 1,502 shares during the period. Invesco Ltd. increased its position in Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after buying an additional 1,790 shares during the period. Bank of Montreal Can boosted its holdings in shares of Zai Lab by 21.5% in the fourth quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock valued at $442,000 after acquiring an additional 2,993 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Zai Lab by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after acquiring an additional 4,276 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on ZLAB shares. Bank of America reiterated 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. Scotiabank began coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of 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 restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th.

Zai Lab Trading Down 0.5 %

Shares of NASDAQ ZLAB traded down $0.15 during trading on Wednesday, reaching $31.69. The company had a trading volume of 919,800 shares, compared to its average volume of 859,646. The stock has a market capitalization of $3.49 billion, a PE ratio of -11.44 and a beta of 1.09. Zai Lab Limited has a twelve month low of $15.73 and a twelve month high of $39.77. The stock has a 50-day moving average price of $33.34 and a two-hundred day moving average price of $29.60.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share 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 firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. On average, sell-side analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Activity at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at $16,029,155.48. The trade was a 9.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the transaction, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by 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.