China Universal Asset Management Co. Ltd. Increases Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 58.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,559 shares of the company’s stock after purchasing an additional 3,514 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Zai Lab were worth $231,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Headlands Technologies LLC bought a new stake in Zai Lab in the first quarter worth $64,000. Swedbank AB bought a new stake in Zai Lab in the first quarter worth $244,000. Dimensional Fund Advisors LP purchased a new stake in Zai Lab during the second quarter valued at $270,000. Finally, Tidal Investments LLC bought a new position in Zai Lab during the first quarter valued at $334,000. 41.65% of the stock is owned by institutional investors.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the transaction, the insider now owns 43,232 shares in the company, valued at $720,677.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ZLAB shares. JPMorgan Chase & Co. upped their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th.

Zai Lab Trading Down 1.9 %

Shares of ZLAB opened at $30.84 on Thursday. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60. The company’s fifty day simple moving average is $23.25 and its 200-day simple moving average is $19.78. The company has a market cap of $3.07 billion, a P/E ratio of -8.84 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $94.46 million. Analysts predict that Zai Lab Limited will post -2.96 earnings per share for the current fiscal year.

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.