Zai Lab Limited (NASDAQ:ZLAB) Shares Bought by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,340 shares of the company’s stock after acquiring an additional 1,790 shares during the quarter. Invesco Ltd.’s holdings in Zai Lab were worth $1,161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC lifted its position in Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after acquiring an additional 9,107 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Zai Lab by 28.9% during 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. SG Americas Securities LLC purchased a new stake in Zai Lab during the 4th quarter valued at approximately $511,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Zai Lab in the fourth quarter valued at about $46,172,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Down 1.7 %

ZLAB opened at $31.15 on Friday. The business’s fifty day simple moving average is $33.26 and its 200 day simple moving average is $29.66. Zai Lab Limited has a 52 week low of $15.80 and a 52 week high of $39.77. The firm has a market cap of $3.43 billion, a P/E ratio of -11.25 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, equities analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ying Du sold 2,945 shares of Zai Lab stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $33.11, for a total value of $97,508.95. Following the completion of the transaction, the chief executive officer now directly owns 479,851 shares in the company, valued at $15,887,866.61. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,744 shares of company stock valued at $4,685,294. Insiders own 13.88% of the company’s stock.

Wall Street Analyst Weigh In

ZLAB has been the topic of several recent analyst reports. Scotiabank began coverage on Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. 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. Finally, JPMorgan Chase & Co. raised their target price 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.

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.