Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,428 shares of the company’s stock after selling 4,126 shares during the period. Russell Investments Group Ltd. owned about 0.20% of Zai Lab worth $5,314,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ZLAB. China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after purchasing an additional 557 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Zai Lab by 58.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Zai Lab during the 4th quarter worth approximately $116,000. Shell Asset Management Co. increased its stake in shares of Zai Lab by 8.3% during the 3rd quarter. Shell Asset Management Co. now owns 8,475 shares of the company’s stock worth $206,000 after purchasing an additional 652 shares in the last quarter. Finally, Triatomic Management LP increased its stake in shares of Zai Lab by 30.8% during the 3rd quarter. Triatomic Management LP now owns 17,000 shares of the company’s stock worth $413,000 after purchasing an additional 4,000 shares in the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zai Lab

In related news, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is currently owned by corporate insiders.

Zai Lab Trading Up 26.8 %

NASDAQ:ZLAB opened at $21.01 on Friday. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -6.09 and a beta of 1.11. The firm’s fifty day simple moving average is $16.78 and its 200 day simple moving average is $22.11. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $39.50.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.93) by $0.38. The business had revenue of $87.15 million for the quarter, compared to analyst estimates of $77.07 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. During the same quarter in the previous year, the business posted ($0.51) EPS. On average, analysts predict that Zai Lab Limited will post -3.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ZLAB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup lowered their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Zai Lab has a consensus rating of “Buy” and a consensus price target of $64.22.

Zai Lab 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.