Zai Lab Limited (NASDAQ:ZLAB) Holdings Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in Zai Lab Limited (NASDAQ:ZLAB) by 18.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,224 shares of the company’s stock after buying an additional 18,654 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Zai Lab worth $2,031,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Headlands Technologies LLC bought a new position in Zai Lab during the 1st quarter valued at $64,000. China Universal Asset Management Co. Ltd. increased its position in shares of Zai Lab by 64.3% during 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 during the period. Swedbank AB bought a new stake in shares of Zai Lab in the 1st quarter worth $244,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Zai Lab in the second quarter valued at $270,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Activity

In related news, insider Joshua L. Smiley sold 4,352 shares of the firm’s 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 completion of the transaction, the insider now owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $56.21.

Zai Lab Stock Down 0.8 %

Shares of Zai Lab stock opened at $24.64 on Thursday. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $31.22. The firm has a market capitalization of $2.45 billion, a PE ratio of -7.06 and a beta of 1.08. The stock’s fifty day moving average is $20.12 and its 200-day moving average is $18.52.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The company had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. Analysts expect that Zai Lab Limited will post -2.95 EPS 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.