Vivo Capital LLC Acquires 119,521 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Vivo Capital LLC lifted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 531,198 shares of the company's stock after acquiring an additional 119,521 shares during the period. Zai Lab makes up 0.7% of Vivo Capital LLC's holdings, making the stock its 29th biggest holding. Vivo Capital LLC owned 0.54% of Zai Lab worth $8,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Zai Lab by 68.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company's stock worth $33,000 after purchasing an additional 557 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of Zai Lab by 8.3% in the 3rd quarter. Shell Asset Management Co. now owns 8,475 shares of the company's stock worth $206,000 after acquiring an additional 652 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Zai Lab by 58.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company's stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Zai Lab by 4.9% during the third quarter. Profund Advisors LLC now owns 19,777 shares of the company's stock valued at $481,000 after purchasing an additional 929 shares in the last quarter. Finally, Sectoral Asset Management Inc. boosted its holdings in Zai Lab by 33.3% during the fourth quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company's stock worth $109,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Wall Street Analyst Weigh In

ZLAB has been the subject of several analyst reports. Citigroup decreased 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 report on Friday, January 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $64.22.

Zai Lab Stock Up 1.1 %

Zai Lab stock traded up $0.17 during trading on Friday, hitting $15.91. The stock had a trading volume of 364,581 shares, compared to its average volume of 470,952. The stock's 50 day moving average is $17.45 and its two-hundred day moving average is $22.57. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $39.50. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -4.61 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The business had revenue of $65.83 million for 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 anticipate that Zai Lab Limited will post -3.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the sale, the insider now owns 20,093 shares of the company's stock, valued at approximately $378,953.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the sale, the insider now directly owns 28,684 shares of the company's stock, valued at $449,478.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rafael Amado sold 2,544 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares of the company's stock, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,568 shares of company stock valued at $208,508. Company insiders own 5.23% of the company's stock.

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.

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