Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,694 shares of the company's stock after selling 25,938 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Zai Lab worth $6,068,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ZLAB. Clearbridge Investments LLC lifted 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 valued at $48,788,000 after acquiring an additional 989,664 shares during the period. Principal Financial Group Inc. purchased a new stake in Zai Lab during the fourth quarter worth about $46,172,000. Allianz Asset Management GmbH grew its position in Zai Lab by 188.6% during the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company's stock worth $39,442,000 after buying an additional 984,041 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Zai Lab by 39.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock valued at $22,045,000 after buying an additional 237,582 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Zai Lab by 42.9% during the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock valued at $6,084,000 after acquiring an additional 69,740 shares during the period. 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ZLAB shares. Bank of America reaffirmed a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note 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. 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 Stock Down 0.3 %

Shares of ZLAB traded down $0.09 during trading hours on Friday, reaching $28.84. 778,491 shares of the company traded hands, compared to its average volume of 839,185. The stock has a fifty day simple moving average of $32.97 and a 200 day simple moving average of $29.24. Zai Lab Limited has a fifty-two week low of $13.93 and a fifty-two week high of $39.77. The stock has a market capitalization of $3.16 billion, a PE ratio of -10.41 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $109.07 million for the quarter, compared to analysts' expectations of $110.15 million. Research analysts predict that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at $17,032,212.99. This represents a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Yajing Chen sold 5,280 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total transaction of $189,499.20. Following the completion of the sale, the chief financial officer now owns 25,471 shares of the company's stock, valued at approximately $914,154.19. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 138,744 shares of company stock worth $4,685,294. Insiders own 13.88% of the company's stock.

Zai Lab 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.