Schonfeld Strategic Advisors LLC Buys Shares of 126,202 Zai Lab Limited (NASDAQ:ZLAB)

Schonfeld Strategic Advisors LLC acquired a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 126,202 shares of the company's stock, valued at approximately $3,305,000. Schonfeld Strategic Advisors LLC owned approximately 0.12% of Zai Lab as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA bought a new stake in Zai Lab during the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after buying an additional 1,502 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after buying an additional 1,790 shares in the last quarter. Barclays PLC lifted its stake in shares of Zai Lab by 337.6% in the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Zai Lab by 21.5% during the 4th quarter. Bank of Montreal Can now owns 16,893 shares of the company's stock worth $442,000 after acquiring an additional 2,993 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Stock Performance

Shares of ZLAB stock traded down $1.02 during trading hours on Wednesday, hitting $28.36. 1,034,475 shares of the company were exchanged, compared to its average volume of 865,068. The company has a 50 day simple moving average of $33.02 and a two-hundred day simple moving average of $29.77. The firm has a market cap of $3.13 billion, a P/E ratio of -10.24 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.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its 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 net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. As a group, sell-side analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Yajing Chen sold 924 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $33.11, for a total transaction of $30,593.64. Following the completion of the sale, the chief financial officer now owns 27,047 shares in the company, valued at $895,526.17. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.41, for a total value of $115,230.00. Following the transaction, the insider now directly owns 30,834 shares of the company's stock, valued at approximately $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,744 shares of company stock valued at $4,685,294. Corporate insiders own 13.88% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. Bank of America reissued a "neutral" rating and issued 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 reaffirmed an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th.

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.