Hennion & Walsh Asset Management Inc. Increases Stake in Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. grew its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 14.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 142,189 shares of the company’s stock after purchasing an additional 18,093 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Zai Lab were worth $3,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors increased its holdings in Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after acquiring an additional 465,337 shares during the last quarter. M&G Plc bought a new stake in shares of Zai Lab in the first quarter worth about $7,266,000. Russell Investments Group Ltd. lifted its position in shares of Zai Lab by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after buying an additional 99,355 shares in the last quarter. Swedbank AB bought a new position in Zai Lab during the first quarter valued at approximately $244,000. Finally, DCF Advisers LLC purchased a new position in Zai Lab during the 2nd quarter valued at approximately $528,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Price Performance

NASDAQ:ZLAB opened at $33.18 on Friday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -9.51 and a beta of 1.08. The business has a 50 day simple moving average of $22.35 and a 200-day simple moving average of $19.36. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $36.60.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.16). The company had revenue of $100.50 million for the quarter, compared to analysts’ expectations of $94.46 million. Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. As a group, analysts expect that Zai Lab Limited will post -2.94 earnings per share for the current fiscal year.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares in the company, valued at approximately $720,677.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $57.71.

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.