Zai Lab Limited (NASDAQ:ZLAB) Holdings Trimmed by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 94.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,517 shares of the company’s stock after selling 82,387 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Zai Lab were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in shares of Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the period. Headlands Technologies LLC purchased a new position in shares of Zai Lab during the 1st quarter valued at $64,000. Swedbank AB acquired a new position in shares of Zai Lab in the first quarter worth $244,000. Dimensional Fund Advisors LP purchased a new stake in shares of Zai Lab during the second quarter worth $270,000. Finally, Tidal Investments LLC acquired a new stake in Zai Lab during the first quarter valued at $334,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZLAB has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares in the company, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.88% of the company’s stock.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $30.89 on Tuesday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -10.09 and a beta of 1.04. The stock’s 50 day simple moving average is $24.26 and its 200 day simple moving average is $20.24. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.16). The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. On average, analysts forecast that Zai Lab Limited will post -2.97 EPS for the current fiscal year.

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.