XTX Topco Ltd decreased its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 57.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,487 shares of the company's stock after selling 18,131 shares during the period. XTX Topco Ltd's holdings in Zai Lab were worth $353,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA bought a new stake in Zai Lab during the 4th quarter valued at $31,000. Barclays PLC grew 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 worth $97,000 after buying an additional 2,856 shares during the last quarter. US Bancorp DE boosted its stake in Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after purchasing an additional 5,534 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Zai Lab in the fourth quarter worth approximately $243,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Zai Lab by 15.7% during 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 during the period. Institutional investors own 41.65% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on ZLAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective 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 report on Thursday, March 13th. Finally, Bank of America restated a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
Read Our Latest Report on ZLAB
Zai Lab Trading Down 2.1 %
Shares of Zai Lab stock traded down $0.70 on Tuesday, hitting $31.74. 254,871 shares of the company traded hands, compared to its average volume of 853,001. Zai Lab Limited has a 52 week low of $15.67 and a 52 week high of $39.77. The company has a market cap of $3.49 billion, a PE ratio of -11.43 and a beta of 1.09. The stock's 50 day moving average price is $33.32 and its 200-day moving average price is $29.58.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate 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 company had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. As a group, research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.
Insider Activity at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 14,544 shares of Zai Lab stock in a transaction that occurred 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 transaction, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now directly owns 494,117 shares of the company's stock, valued at $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,744 shares of company stock valued at $4,685,294 in the last three months. 13.88% of the stock is owned by insiders.
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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