Renaissance Technologies LLC Grows Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Renaissance Technologies LLC boosted its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 112.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,800 shares of the company's stock after acquiring an additional 99,500 shares during the quarter. Renaissance Technologies LLC owned 0.17% of Zai Lab worth $4,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position 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 purchasing an additional 1,790 shares in the last quarter. ADAR1 Capital Management LLC increased its stake in Zai Lab by 96.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,045,837 shares of the company's stock worth $27,390,000 after buying an additional 513,383 shares during the period. Bank of Montreal Can lifted its holdings 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 buying an additional 2,993 shares in the last quarter. FMR LLC boosted its position in Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after buying an additional 4,830,646 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Zai Lab in the fourth quarter worth $976,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ying Du sold 50,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the completion of the sale, the chief executive officer now directly 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 through the SEC website. Also, 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 value of $479,661.12. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,744 shares of company stock worth $4,685,294. Corporate insiders own 13.88% of the company's stock.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB traded down $1.41 on Friday, hitting $32.39. 301,903 shares of the company's stock were exchanged, compared to its average volume of 845,452. Zai Lab Limited has a 1-year low of $15.05 and a 1-year high of $39.77. The company has a market capitalization of $3.55 billion, a PE ratio of -11.69 and a beta of 1.09. The firm's 50-day moving average is $33.27 and its 200 day moving average is $29.42.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. On average, analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ZLAB shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. lifted their price objective on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Bank of America restated a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Scotiabank began coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company.

Zai Lab Company Profile

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.