Fmr LLC Boosts Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

FMR LLC raised its position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 749.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,475,505 shares of the company's stock after purchasing an additional 4,830,646 shares during the quarter. FMR LLC owned 5.00% of Zai Lab worth $143,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new position in Zai Lab in the 3rd quarter worth $225,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Zai Lab during the third quarter worth about $369,000. M&T Bank Corp raised its stake in Zai Lab by 9.6% during the 3rd quarter. M&T Bank Corp now owns 25,188 shares of the company's stock valued at $608,000 after purchasing an additional 2,209 shares during the period. Geode Capital Management LLC lifted its holdings in Zai Lab by 26.4% in the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock worth $1,053,000 after purchasing an additional 9,107 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in 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 purchasing an additional 41,128 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Trading Down 0.3 %

Shares of ZLAB stock traded down $0.09 on Friday, reaching $28.84. The company's stock had a trading volume of 778,491 shares, compared to its average volume of 838,609. The stock's fifty day simple moving average is $32.94 and its 200-day simple moving average is $29.21. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $39.77. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -10.41 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its 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). The business had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Equities research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Scotiabank started 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 on the stock. JPMorgan Chase & Co. increased their price objective 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 reaffirmed a "neutral" rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

Insider Buying and Selling at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 1,874 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $62,048.14. Following the completion of the sale, the insider now owns 30,375 shares in the company, valued at approximately $1,005,716.25. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Yajing Chen sold 924 shares of Zai Lab stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $30,593.64. Following the transaction, the chief financial officer now directly owns 27,047 shares of the company's stock, valued at approximately $895,526.17. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,744 shares of company stock worth $4,685,294 over the last ninety days. Company insiders own 13.88% of the company's stock.

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.