Wells Fargo & Company MN boosted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 8,090.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,954 shares of the company's stock after acquiring an additional 40,454 shares during the period. Wells Fargo & Company MN's holdings in Zai Lab were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of ZLAB. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the 4th quarter valued at about $31,000. US Bancorp DE raised its position in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after buying an additional 5,534 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in 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 valued at $290,000 after acquiring an additional 1,502 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Zai Lab during the 4th quarter worth approximately $313,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Zai Lab by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after purchasing an additional 4,276 shares during the last quarter. Institutional investors own 41.65% of the company's stock.
Zai Lab Stock Performance
NASDAQ:ZLAB traded down $0.43 during mid-day trading on Monday, reaching $30.75. 29,312 shares of the company's stock were exchanged, compared to its average volume of 857,314. Zai Lab Limited has a one year low of $16.01 and a one year high of $39.77. The business's fifty day simple moving average is $33.20 and its two-hundred day simple moving average is $29.75. The firm has a market capitalization of $3.39 billion, a PE ratio of -11.09 and a beta of 1.04.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (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, equities research analysts forecast that Zai Lab Limited will post -2.58 EPS for the current year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on ZLAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Scotiabank began coverage on Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. JPMorgan Chase & Co. raised their target price 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, Bank of America reissued a "neutral" rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.
Check Out Our Latest Stock Analysis on Zai Lab
Insider Buying and Selling at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the sale, the insider now directly owns 14,328 shares in the company, valued at $472,537.44. This represents a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the transaction, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock worth $4,685,294 over the last quarter. Corporate insiders own 13.88% of the company's stock.
Zai Lab Profile
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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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