Dimensional Fund Advisors LP Acquires New Shares in Zai Lab Limited (NASDAQ:ZLAB)

Dimensional Fund Advisors LP purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,555 shares of the company’s stock, valued at approximately $270,000.

A number of other institutional investors also recently added to or reduced their stakes in ZLAB. BNP Paribas Financial Markets raised its stake in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares during the period. TD Asset Management Inc grew its stake in shares of Zai Lab by 1.4% in the 2nd quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock valued at $3,847,000 after purchasing an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zai Lab by 64.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock valued at $153,000 after purchasing an additional 3,728 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Zai Lab in the 1st quarter worth about $64,000. Finally, Capital International Inc. CA increased its position in shares of Zai Lab by 6.7% during the 1st quarter. Capital International Inc. CA now owns 92,108 shares of the company’s stock worth $1,476,000 after purchasing an additional 5,815 shares in the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares of the company’s stock, valued at $720,677.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.23% of the company’s stock.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB opened at $24.72 on Tuesday. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $31.22. The company has a market capitalization of $2.46 billion, a P/E ratio of -7.08 and a beta of 1.08. The company has a 50-day simple moving average of $20.40 and a 200 day simple moving average of $18.67.

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). 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 during the quarter, compared to the consensus estimate of $94.46 million. As a group, equities analysts forecast that Zai Lab Limited will post -2.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ZLAB. JPMorgan Chase & Co. reduced their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $56.21.

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.