SG Americas Securities LLC Invests $116,000 in Zai Lab Limited (NASDAQ:ZLAB)

SG Americas Securities LLC purchased a new position in Zai Lab Limited (NASDAQ:ZLAB) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,241 shares of the company’s stock, valued at approximately $116,000.

Other institutional investors also recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new stake in shares of Zai Lab in the 4th quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after acquiring an additional 557 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after acquiring an additional 700 shares during the period. Royal Bank of Canada lifted its stake in shares of Zai Lab by 1,930.1% in the 2nd quarter. Royal Bank of Canada now owns 4,852 shares of the company’s stock worth $135,000 after acquiring an additional 4,613 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Zai Lab in the 4th quarter worth approximately $190,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Price Performance

ZLAB stock opened at $14.22 on Friday. Zai Lab Limited has a 12 month low of $13.48 and a 12 month high of $39.50. The firm has a market cap of $1.41 billion, a PE ratio of -4.12 and a beta of 1.10. The firm has a 50 day simple moving average of $18.02 and a 200 day simple moving average of $22.99.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly 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 firm had revenue of $65.83 million during the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. As a group, sell-side analysts expect that Zai Lab Limited will post -3.1 earnings per share for the current year.

Insider Transactions at Zai Lab

In other news, insider Rafael Amado sold 2,544 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the transaction, the chief executive officer now owns 1,107,972 shares in the company, valued at $17,893,747.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $208,508 in the last 90 days. 5.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reissued 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 data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $64.22.

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.