Zai Lab Limited (NASDAQ:ZLAB) Stock Position Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in Zai Lab Limited (NASDAQ:ZLAB) by 2.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 194,428 shares of the company’s stock after selling 4,126 shares during the quarter. Russell Investments Group Ltd.’s holdings in Zai Lab were worth $5,314,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position 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 valued at $33,000 after acquiring an additional 557 shares in the last quarter. PNC Financial Services Group Inc. lifted its position 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 valued at $46,000 after acquiring an additional 700 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Zai Lab in the 4th quarter valued at approximately $116,000. Shell Asset Management Co. lifted its position in shares of Zai Lab by 8.3% in the 3rd quarter. Shell Asset Management Co. now owns 8,475 shares of the company’s stock valued at $206,000 after acquiring an additional 652 shares in the last quarter. Finally, Triatomic Management LP lifted its position in shares of Zai Lab by 30.8% in the 3rd quarter. Triatomic Management LP now owns 17,000 shares of the company’s stock valued at $413,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Up 26.8 %

Shares of ZLAB opened at $21.01 on Friday. The company’s fifty day moving average is $16.78 and its 200-day moving average is $22.11. 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 $2.08 billion, a price-to-earnings ratio of -6.09 and a beta of 1.11.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.38. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The company had revenue of $87.15 million for the quarter, compared to analyst estimates of $77.07 million. During the same quarter in the prior year, the business posted ($0.51) EPS. As a group, research analysts predict that Zai Lab Limited will post -3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup dropped their price objective on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $64.22.

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, CEO Ying Du sold 5,787 shares of the company’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 sale, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. 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.

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.