RTW Investments LP Buys New Position in Zai Lab Limited (NASDAQ:ZLAB)

RTW Investments LP bought a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,509,119 shares of the company's stock, valued at approximately $65,714,000. Zai Lab accounts for about 1.0% of RTW Investments LP's holdings, making the stock its 29th biggest holding. RTW Investments LP owned approximately 2.29% of Zai Lab as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. FMR LLC increased its stake in shares of 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. purchased a new position in Zai Lab during the fourth quarter valued at $46,172,000. RA Capital Management L.P. bought a new stake in Zai Lab in the fourth quarter worth $33,917,000. Clearbridge Investments LLC boosted its holdings in Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company's stock worth $48,788,000 after acquiring an additional 989,664 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings 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 worth $39,442,000 after acquiring an additional 984,041 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Stock Performance

Shares of ZLAB traded up $2.06 during mid-day trading on Monday, hitting $32.99. 887,450 shares of the company traded hands, compared to its average volume of 862,276. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -11.91 and a beta of 1.04. The stock has a 50-day moving average price of $32.06 and a two-hundred day moving average price of $29.69. Zai Lab Limited has a 1 year low of $16.01 and a 1 year high of $39.77.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $106.49 million for the quarter, compared to analysts' expectations of $118.40 million. On average, analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Scotiabank assumed coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 target price on the stock. Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped 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.

Insider Buying and Selling at Zai Lab

In related news, insider Rafael Amado sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.41, for a total transaction of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the sale, 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. Over the last 90 days, insiders have sold 235,133 shares of company stock valued at $7,416,861. 4.96% of the stock is owned by company insiders.

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.