Zurcher Kantonalbank Zurich Cantonalbank Invests $1.67 Million in Zai Lab Limited (NASDAQ:ZLAB)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 63,909 shares of the company’s stock, valued at approximately $1,674,000. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Zai Lab as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ZLAB. US Bancorp DE grew its position in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after acquiring an additional 5,534 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Zai Lab during the 3rd quarter worth $225,000. Daiwa Securities Group Inc. grew its position in Zai Lab by 4,851.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after acquiring an additional 9,364 shares during the last quarter. RBF Capital LLC bought a new stake in Zai Lab during the 3rd quarter worth $241,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Zai Lab by 15.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after acquiring an additional 1,502 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Activity at Zai Lab

In related news, insider Frazor Titus Edmondson III sold 14,544 shares of the company’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 sale, the insider now owns 14,328 shares in the company, valued at $472,537.44. This represents a 50.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the sale, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,127 shares of company stock worth $4,024,442 in the last 90 days. Corporate insiders own 13.88% of the company’s stock.

Zai Lab Trading Up 0.4 %

NASDAQ ZLAB opened at $38.35 on Tuesday. The business’s 50-day moving average price is $29.73 and its two-hundred day moving average price is $27.32. Zai Lab Limited has a 12 month low of $13.48 and a 12 month high of $39.61. The firm has a market capitalization of $4.20 billion, a PE ratio of -13.84 and a beta of 1.08.

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

Analysts Set New Price Targets

ZLAB has been the topic of a number of research reports. Bank of America restated a “neutral” rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank initiated coverage on Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald upgraded Zai Lab to a “strong-buy” rating in a research report on Tuesday, March 4th.

Zai Lab 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.