Raymond James Financial Inc. Makes New $1.03 Million Investment in Zai Lab Limited (NASDAQ:ZLAB)

Raymond James Financial Inc. bought a new stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 39,420 shares of the company's stock, valued at approximately $1,032,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in Zai Lab by 749.1% during the fourth 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 in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Zai Lab during the 4th quarter worth $46,172,000. Clearbridge Investments LLC raised its holdings in shares of Zai Lab by 113.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after buying an additional 989,664 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Zai Lab by 188.6% in the fourth 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 boosted its stake in Zai Lab by 96.4% in the fourth 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. Institutional investors own 41.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Bank of America restated a "neutral" rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Scotiabank started 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 other Zai Lab news, 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 sale, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at approximately $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock worth $4,685,294 over the last ninety days. Insiders own 13.88% of the company's stock.

Zai Lab Trading Up 0.1 %

NASDAQ:ZLAB opened at $31.18 on Monday. Zai Lab Limited has a 1-year low of $16.01 and a 1-year high of $39.77. The stock has a market cap of $3.43 billion, a P/E ratio of -11.26 and a beta of 1.04. The stock's 50-day moving average is $33.20 and its 200-day moving average is $29.75.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to the consensus estimate 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, equities analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

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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