Marshall Wace LLP acquired a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 288,992 shares of the company's stock, valued at approximately $7,569,000. Marshall Wace LLP owned about 0.26% of Zai Lab at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Pictet Asset Management Holding SA acquired a new position in Zai Lab during the 4th quarter valued at about $31,000. Barclays PLC increased its position in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after buying an additional 2,856 shares in the last quarter. US Bancorp DE increased its position in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after buying an additional 5,534 shares in the last quarter. Townsquare Capital LLC acquired a new position in Zai Lab during the 4th quarter valued at about $243,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares in the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now owns 14,328 shares of the company's stock, valued at $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction 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 quarter, insiders have sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is currently owned by corporate insiders.
Zai Lab Stock Up 1.3 %
Shares of Zai Lab stock traded up $0.43 during trading hours on Monday, reaching $32.43. 1,152,620 shares of the company's stock were exchanged, compared to its average volume of 855,355. Zai Lab Limited has a 1 year low of $15.67 and a 1 year high of $39.77. The business has a fifty day moving average of $33.32 and a two-hundred day moving average of $29.58. The company has a market capitalization of $3.57 billion, a P/E ratio of -11.71 and a beta of 1.09.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data 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%. As a group, research analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ZLAB. Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Finally, Bank of America reissued a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.
View Our Latest Analysis on ZLAB
Zai Lab Profile
(
Free Report)
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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