MPM Bioimpact LLC Purchases Shares of 800,000 Zai Lab Limited (NASDAQ:ZLAB)

MPM Bioimpact LLC bought a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 800,000 shares of the company's stock, valued at approximately $20,952,000. Zai Lab accounts for approximately 3.0% of MPM Bioimpact LLC's portfolio, making the stock its 9th largest holding. MPM Bioimpact LLC owned approximately 0.73% of Zai Lab at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in Zai Lab during the fourth quarter worth about $46,172,000. Raymond James Financial Inc. purchased a new position in Zai Lab during the 4th quarter valued at about $1,032,000. Alberta Investment Management Corp increased its holdings in shares of Zai Lab by 42.9% in the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock valued at $6,084,000 after purchasing an additional 69,740 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Zai Lab by 28.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock valued at $4,801,000 after purchasing an additional 41,128 shares during the period. Finally, FMR LLC increased its holdings in shares of Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after purchasing an additional 4,830,646 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Yajing Chen sold 5,280 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total transaction of $189,499.20. Following the completion of the transaction, the chief financial officer now directly owns 25,471 shares in the company, valued at $914,154.19. The trade was a 17.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $28.57, for a total value of $1,428,500.00. Following the transaction, the chief executive officer now owns 479,851 shares of the company's stock, valued at approximately $13,709,343.07. This trade represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,133 shares of company stock worth $7,416,861. 4.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of a number of research reports. Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, Bank of America reissued 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.

Zai Lab Stock Performance

Shares of NASDAQ ZLAB traded up $2.18 during trading hours on Friday, hitting $30.93. The stock had a trading volume of 1,014,184 shares, compared to its average volume of 860,553. The company has a market capitalization of $3.41 billion, a P/E ratio of -11.17 and a beta of 1.04. The firm's 50-day moving average price is $32.11 and its two-hundred day moving average price is $29.68. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $118.40 million. As a group, analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal 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.