Dimensional Fund Advisors LP purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB – Free Report) 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
Zai Lab (NASDAQ:ZLAB – Get Free Report) 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.
View Our Latest Stock Analysis on Zai Lab
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.
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