63,909 Shares in Zai Lab Limited (NASDAQ:ZLAB) Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB) during the fourth quarter, HoldingsChannel reports. The firm purchased 63,909 shares of the company’s stock, valued at approximately $1,674,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in Zai Lab during the 4th quarter worth approximately $46,172,000. Geode Capital Management LLC raised its stake in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock worth $1,053,000 after purchasing an additional 9,107 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of Zai Lab by 42.9% in the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock worth $6,084,000 after purchasing an additional 69,740 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Zai Lab by 28.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock worth $4,801,000 after purchasing an additional 41,128 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Zai Lab in the fourth quarter worth approximately $511,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the 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 transaction, the chief executive officer now directly owns 494,117 shares of the company’s stock, valued at approximately $16,029,155.48. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the 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 transaction, the insider now directly owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,127 shares of company stock valued at $4,024,442. 13.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZLAB. Scotiabank began coverage on Zai Lab in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective for the company. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Finally, Bank of America reissued a “neutral” rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Trading Up 0.4 %

Shares of ZLAB opened at $38.35 on Tuesday. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -13.84 and a beta of 1.08. The stock has a 50 day moving average of $29.73 and a 200 day moving average of $27.32. Zai Lab Limited has a 12 month low of $13.48 and a 12 month high of $39.61.

Zai Lab (NASDAQ:ZLAB) last issued 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). The business had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, equities research analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current 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.