Zai Lab Limited (NASDAQ:ZLAB) Position Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,520 shares of the company’s stock after buying an additional 11,894 shares during the period. Geode Capital Management LLC’s holdings in Zai Lab were worth $1,454,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ZLAB. Principal Financial Group Inc. bought a new stake in Zai Lab during the fourth quarter worth approximately $46,172,000. Clearbridge Investments LLC boosted its stake in Zai Lab by 113.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock worth $48,788,000 after purchasing an additional 989,664 shares during the period. Allianz Asset Management GmbH boosted its stake in Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company’s stock worth $39,442,000 after purchasing an additional 984,041 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Zai Lab by 39.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company’s stock worth $22,045,000 after buying an additional 237,582 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in Zai Lab by 42.9% in the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock worth $6,084,000 after buying an additional 69,740 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Trading Down 0.5 %

Zai Lab stock opened at $31.69 on Thursday. The company has a market capitalization of $3.49 billion, a P/E ratio of -11.44 and a beta of 1.09. The firm’s fifty day simple moving average is $33.29 and its 200-day simple moving average is $29.61. Zai Lab Limited has a 1-year low of $15.73 and a 1-year high of $39.77.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. Bank of America reiterated a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Thursday, March 27th.

Insider Buying and Selling

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now directly owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares in the company, valued at $16,029,155.48. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,744 shares of company stock worth $4,685,294 in the last quarter. 13.88% of the stock is currently owned by company insiders.

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.