Hennion & Walsh Asset Management Inc. Acquires 18,093 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,189 shares of the company’s stock after buying an additional 18,093 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.14% of Zai Lab worth $3,432,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Zai Lab by 18.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company’s stock valued at $2,031,000 after acquiring an additional 18,654 shares during the last quarter. DCF Advisers LLC purchased a new stake in Zai Lab in the second quarter worth approximately $528,000. XTX Topco Ltd boosted its holdings in Zai Lab by 19.2% in the second quarter. XTX Topco Ltd now owns 29,283 shares of the company’s stock worth $507,000 after purchasing an additional 4,710 shares during the last quarter. Renaissance Technologies LLC raised its stake in Zai Lab by 91.9% during the 2nd quarter. Renaissance Technologies LLC now owns 28,214 shares of the company’s stock valued at $489,000 after buying an additional 13,514 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Zai Lab during the 2nd quarter valued at $270,000. 41.65% of the stock is currently owned by institutional investors.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction on 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 owns 43,232 shares in the company, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zai Lab currently has a consensus rating of “Buy” and an average price target of $57.71.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $33.18 on Friday. The stock has a 50-day simple moving average of $22.35 and a two-hundred day simple moving average of $19.36. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The firm has a market capitalization of $3.31 billion, a PE ratio of -9.51 and a beta of 1.08.

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

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.