Zai Lab Limited (NASDAQ:ZLAB) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,114 shares of the company’s stock after buying an additional 1,200 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of Zai Lab worth $1,496,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Woodline Partners LP increased its position in Zai Lab by 9.4% during the 4th quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock worth $46,089,000 after purchasing an additional 151,835 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Zai Lab during the 4th quarter worth about $7,857,000. Squarepoint Ops LLC purchased a new stake in shares of Zai Lab during the fourth quarter worth about $732,000. Twinbeech Capital LP acquired a new position in shares of Zai Lab in the fourth quarter valued at approximately $708,000. Finally, Two Sigma Advisers LP raised its position in shares of Zai Lab by 30.0% in the fourth quarter. Two Sigma Advisers LP now owns 18,200 shares of the company’s stock valued at $477,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ZLAB shares. JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Bank of America reaffirmed a “neutral” rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank started 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th.

Insider Buying and Selling

In other news, insider Frazor Titus Edmondson III sold 4,369 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $35.89, for a total value of $156,803.41. Following the completion of the transaction, the insider now directly owns 27,217 shares in the company, valued at approximately $976,818.13. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the sale, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 130,207 shares of company stock valued at $3,880,239. Company insiders own 4.96% of the company’s stock.

Zai Lab Trading Up 4.3%

ZLAB stock opened at $38.11 on Monday. The stock has a 50-day moving average price of $30.93 and a two-hundred day moving average price of $30.08. The company has a market cap of $4.20 billion, a PE ratio of -13.76 and a beta of 0.96. Zai Lab Limited has a 12-month low of $16.01 and a 12-month high of $39.77.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. Equities analysts forecast that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

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.