RA Capital Management L.P. Acquires New Position in Zai Lab Limited (NASDAQ:ZLAB)

RA Capital Management L.P. acquired a new stake in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,295,040 shares of the company's stock, valued at approximately $33,917,000. RA Capital Management L.P. owned about 1.18% of Zai Lab at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Pictet Asset Management Holding SA purchased a new position in shares of Zai Lab in the 4th quarter worth $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 worth $97,000 after purchasing an additional 2,856 shares in the last quarter. US Bancorp DE grew its stake in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after buying an additional 5,534 shares during the period. Townsquare Capital LLC acquired a new position in shares of Zai Lab during the 4th quarter valued at $243,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 15.7% in the fourth 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. Institutional investors and hedge funds own 41.65% of the company's stock.

Insider Transactions at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 924 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $30,593.64. Following the sale, the chief financial officer now owns 27,047 shares of the company's stock, valued at $895,526.17. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the transaction, the insider now directly owns 14,328 shares of the company's stock, valued at $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,744 shares of company stock worth $4,685,294. Insiders own 13.88% of the company's stock.

Wall Street Analyst Weigh In

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

Zai Lab Trading Down 5.1 %

NASDAQ ZLAB traded down $1.59 during trading on Tuesday, reaching $29.36. 425,628 shares of the company's stock were exchanged, compared to its average volume of 859,252. The firm has a market capitalization of $3.23 billion, a PE ratio of -10.61 and a beta of 1.04. Zai Lab Limited has a fifty-two week low of $16.01 and a fifty-two week high of $39.77. The company's fifty day simple moving average is $33.12 and its 200-day simple moving average is $29.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The business 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%. Equities analysts forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Zai Lab Company 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.