Genesis Investment Management LLP trimmed its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 32.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,663 shares of the company's stock after selling 339,503 shares during the period. Zai Lab accounts for approximately 3.7% of Genesis Investment Management LLP's holdings, making the stock its 8th largest position. Genesis Investment Management LLP owned about 0.70% of Zai Lab worth $18,930,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. UBS Group AG lifted its holdings in Zai Lab by 312.4% during the third quarter. UBS Group AG now owns 288,981 shares of the company's stock valued at $7,025,000 after purchasing an additional 218,907 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Zai Lab by 323.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company's stock valued at $159,000 after purchasing an additional 4,431 shares during the last quarter. Bamco Inc. NY grew its position in shares of Zai Lab by 4.5% during the third quarter. Bamco Inc. NY now owns 1,579,349 shares of the company's stock valued at $38,394,000 after purchasing an additional 67,288 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Zai Lab in the third quarter worth about $1,169,000. Finally, XY Capital Ltd bought a new stake in Zai Lab in the third quarter worth $3,397,000. 41.65% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Zai Lab news, CEO Ying Du sold 5,787 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the sale, the chief executive officer now owns 1,107,972 shares of the company's stock, valued at approximately $17,893,747.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ying Du sold 5,787 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now owns 1,107,972 shares of the company's stock, valued at $17,893,747.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock valued at $208,508 over the last three months. 5.23% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Friday, January 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $64.22.
Get Our Latest Stock Analysis on ZLAB
Zai Lab Trading Down 4.9 %
Shares of NASDAQ ZLAB traded down $0.70 during mid-day trading on Wednesday, reaching $13.72. The company had a trading volume of 397,845 shares, compared to its average volume of 641,110. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -3.98 and a beta of 1.10. The business's 50-day moving average is $18.02 and its 200-day moving average is $22.99. Zai Lab Limited has a 52 week low of $13.66 and a 52 week high of $39.50.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.11). The firm had revenue of $65.83 million during the quarter, compared to analysts' expectations of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. As a group, equities research analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current year.
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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