Townsquare Capital LLC bought a new stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,290 shares of the company's stock, valued at approximately $243,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dymon Asia Capital Singapore PTE. LTD. acquired a new position in Zai Lab in the 4th quarter valued at about $524,000. Raymond James Financial Inc. acquired a new position in Zai Lab in the 4th quarter valued at about $1,032,000. Renaissance Technologies LLC grew its stake in Zai Lab by 112.7% in the 4th quarter. Renaissance Technologies LLC now owns 187,800 shares of the company's stock valued at $4,918,000 after buying an additional 99,500 shares during the last quarter. Invesco Ltd. grew its stake in Zai Lab by 4.2% in the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock valued at $1,161,000 after buying an additional 1,790 shares during the last quarter. Finally, ADAR1 Capital Management LLC grew its stake in Zai Lab by 96.4% in the 4th 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 during the last quarter. 41.65% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ZLAB. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research report on Thursday, March 27th. Bank of America restated a "neutral" rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank began coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th.
Read Our Latest Report on ZLAB
Insider Transactions at Zai Lab
In related news, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 494,117 shares of the company's stock, valued at $16,029,155.48. This represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the 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 completion of the transaction, the insider now directly owns 14,328 shares of the company's stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,744 shares of company stock valued at $4,685,294. Company insiders own 13.88% of the company's stock.
Zai Lab Stock Performance
Shares of Zai Lab stock traded up $0.43 on Monday, reaching $32.43. 1,152,620 shares of the stock were exchanged, compared to its average volume of 855,355. The firm's 50 day moving average is $33.32 and its 200-day moving average is $29.58. Zai Lab Limited has a one year low of $15.67 and a one year high of $39.77. The firm has a market cap of $3.57 billion, a PE ratio of -11.71 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) earnings per share 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 the consensus estimate of $110.15 million. On average, equities research analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
About Zai Lab
(
Free Report)
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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