Fmr LLC Raises Position in Zai Lab Limited (NASDAQ:ZLAB)

Fmr LLC lifted its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 749.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,475,505 shares of the company’s stock after buying an additional 4,830,646 shares during the quarter. Fmr LLC owned 0.05% of Zai Lab worth $143,403,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the fourth quarter valued at approximately $31,000. US Bancorp DE grew its holdings in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after purchasing an additional 5,534 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Zai Lab during the 3rd quarter worth $225,000. China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after buying an additional 1,502 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in Zai Lab in the 4th quarter valued at about $313,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CFO Yajing Chen sold 924 shares of Zai Lab stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $30,593.64. Following the completion of the transaction, the chief financial officer now directly owns 27,047 shares in the company, valued at $895,526.17. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares in the company, valued at $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,744 shares of company stock worth $4,685,294 over the last 90 days. Insiders own 13.88% of the company’s stock.

Analysts Set New Price Targets

ZLAB has been the topic of a number of analyst reports. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price target 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. Finally, Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock.

Zai Lab Stock Up 21.5 %

Shares of NASDAQ ZLAB opened at $29.54 on Monday. The stock’s 50 day moving average price is $32.74 and its two-hundred day moving average price is $29.12. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $39.77. The stock has a market capitalization of $3.24 billion, a P/E ratio of -10.66 and a beta of 1.09.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share 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 firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. On average, analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current 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.