Mirae Asset Global Investments Co. Ltd. Sells 7,209 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,418 shares of the company’s stock after selling 7,209 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Zai Lab were worth $3,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Zai Lab by 138.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 45,213 shares of the company’s stock valued at $1,939,000 after acquiring an additional 26,250 shares during the period. BlackRock Inc. boosted its position in shares of Zai Lab by 6.3% in the first quarter. BlackRock Inc. now owns 3,924,215 shares of the company’s stock valued at $172,587,000 after acquiring an additional 231,759 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Zai Lab by 11.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 35,511 shares of the company’s stock valued at $1,562,000 after acquiring an additional 3,711 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Zai Lab in the first quarter valued at about $210,000. Finally, Aviva PLC boosted its position in shares of Zai Lab by 1.1% in the first quarter. Aviva PLC now owns 35,870 shares of the company’s stock valued at $1,578,000 after acquiring an additional 400 shares during the period. 41.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ying Du sold 5,787 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the transaction, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is currently owned by corporate insiders.

Zai Lab Stock Down 4.9 %

ZLAB stock opened at $13.72 on Thursday. The business has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $22.99. Zai Lab Limited has a 52 week low of $13.66 and a 52 week high of $39.50.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The business had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. As a group, research analysts forecast that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zai Lab currently has an average rating of “Buy” and an average target price of $64.22.

Zai Lab 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.