Great West Life Assurance Co. Can Buys Shares of 109,931 Zai Lab Limited (NASDAQ:ZLAB)

Great West Life Assurance Co. Can bought a new stake in Zai Lab Limited (NASDAQ:ZLABGet Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 109,931 shares of the company’s stock, valued at approximately $3,746,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Zai Lab by 13.9% in the first quarter. Invesco Ltd. now owns 8,258,118 shares of the company’s stock valued at $363,192,000 after acquiring an additional 1,006,575 shares during the period. BlackRock Inc. lifted its holdings in shares of Zai Lab by 6.3% in the first quarter. BlackRock Inc. now owns 3,924,215 shares of the company’s stock valued at $172,587,000 after purchasing an additional 231,759 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Zai Lab by 2.5% in the first quarter. Vanguard Group Inc. now owns 2,255,435 shares of the company’s stock valued at $99,195,000 after purchasing an additional 55,132 shares in the last quarter. Genesis Investment Management LLP lifted its holdings in shares of Zai Lab by 96.3% in the second quarter. Genesis Investment Management LLP now owns 1,610,174 shares of the company’s stock valued at $55,841,000 after purchasing an additional 789,822 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Zai Lab by 2.5% in the second quarter. State Street Corp now owns 1,462,963 shares of the company’s stock valued at $50,736,000 after purchasing an additional 36,313 shares in the last quarter. 59.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZLAB has been the topic of a number of research reports. Guggenheim cut their price target on Zai Lab to $83.00 in a report on Thursday, October 20th. Citigroup cut their price target on Zai Lab from $199.00 to $127.00 and set a “buy” rating on the stock in a report on Friday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on Zai Lab from $96.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, November 18th.

Zai Lab Stock Performance

ZLAB opened at $45.61 on Tuesday. Zai Lab Limited has a 52-week low of $20.98 and a 52-week high of $61.29. The firm has a market capitalization of $4.47 billion, a PE ratio of -7.33 and a beta of 1.18. The business’s 50-day simple moving average is $36.22 and its 200 day simple moving average is $37.73.

Zai Lab (NASDAQ:ZLABGet Rating) last released its earnings results on Wednesday, November 9th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.48). Zai Lab had a negative return on equity of 47.41% and a negative net margin of 301.79%. The company had revenue of $57.54 million for the quarter, compared to the consensus estimate of $53.58 million. On average, research analysts forecast that Zai Lab Limited will post -5.08 earnings per share for the current year.

Insider Buying and Selling

In other Zai Lab news, insider Harald Reinhart sold 1,854 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $40.00, for a total transaction of $74,160.00. Following the transaction, the insider now owns 24,861 shares of the company’s stock, valued at $994,440. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.53% of the stock is currently owned by corporate insiders.

Zai Lab Profile

(Get Rating)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

Further Reading

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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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