Price T Rowe Associates Inc. MD Raises Position in Zai Lab Limited (NASDAQ:ZLAB)

Price T Rowe Associates Inc. MD boosted its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,354,025 shares of the company's stock after buying an additional 548,378 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.15% of Zai Lab worth $61,653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZLAB. FMR LLC lifted its stake in 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 buying an additional 4,830,646 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Zai Lab in the 4th quarter valued at about $46,172,000. Clearbridge Investments LLC lifted its stake in Zai Lab by 113.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock valued at $48,788,000 after buying an additional 989,664 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock valued at $39,442,000 after buying an additional 984,041 shares in the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in Zai Lab by 96.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,045,837 shares of the company's stock valued at $27,390,000 after buying an additional 513,383 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Price Performance

Shares of NASDAQ ZLAB opened at $32.43 on Tuesday. The company has a 50 day simple moving average of $33.32 and a 200-day simple 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 Limited has a 1 year low of $15.67 and a 1 year high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, research analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZLAB shares. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Bank of America reissued a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 50,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,744 shares of company stock worth $4,685,294. 13.88% of the stock is currently owned by company 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.

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