The Manufacturers Life Insurance Company Has $4.20 Million Position in Zai Lab Limited (NASDAQ:ZLAB)

The Manufacturers Life Insurance Company increased its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 32.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 160,378 shares of the company's stock after buying an additional 39,294 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.15% of Zai Lab worth $4,200,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ZLAB. Geode Capital Management LLC raised its holdings in Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock valued at $1,053,000 after acquiring an additional 9,107 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Zai Lab by 28.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock worth $4,801,000 after acquiring an additional 41,128 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Zai Lab in the 4th quarter worth approximately $511,000. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after acquiring an additional 1,502 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Zai Lab in the 4th quarter worth approximately $46,172,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Zai Lab Trading Down 2.4%

ZLAB stock traded down $0.71 during midday trading on Tuesday, hitting $28.69. The stock had a trading volume of 596,735 shares, compared to its average volume of 853,755. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -10.36 and a beta of 1.04. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77. The stock has a 50-day simple moving average of $32.62 and a 200 day simple moving average of $29.73.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America reissued a "neutral" rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on 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 Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock.

Insider Buying and Selling

In related news, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction on 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 of the company's stock, valued at $472,537.44. The trade was a 50.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rafael Amado sold 3,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,744 shares of company stock worth $4,685,294 in the last 90 days. 13.88% of the stock is owned by company insiders.

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.