19,840 Shares in Zai Lab Limited (NASDAQ:ZLAB) Bought by LMR Partners LLP

LMR Partners LLP bought a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,840 shares of the company's stock, valued at approximately $520,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab during the 4th quarter worth approximately $31,000. Barclays PLC grew its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares during the last quarter. US Bancorp DE grew its stake in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after buying an additional 5,534 shares during the last quarter. Jasper Ridge Partners L.P. purchased a new stake in shares of Zai Lab in the 4th quarter worth approximately $210,000. Finally, Townsquare Capital LLC purchased a new stake in shares of Zai Lab in the 4th quarter worth approximately $243,000. Hedge funds and other institutional investors own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ZLAB. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. upped their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Bank of America restated a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank began coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target on the stock.

Zai Lab Trading Down 2.5%

ZLAB stock traded down $0.83 during midday trading on Tuesday, hitting $32.16. The company's stock had a trading volume of 142,893 shares, compared to its average volume of 859,430. The company has a market cap of $3.55 billion, a PE ratio of -11.60 and a beta of 1.04. Zai Lab Limited has a 12 month low of $16.01 and a 12 month high of $39.77. The firm's 50-day moving average is $32.06 and its 200-day moving average is $29.69.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.05. The business had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now directly owns 14,328 shares of the company's stock, valued at approximately $472,537.44. This represents a 50.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 494,117 shares in the company, 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. In the last three months, insiders have sold 235,133 shares of company stock valued at $7,416,861. 4.96% of the stock is owned by corporate insiders.

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.