DekaBank Deutsche Girozentrale Increases Position in Zai Lab Limited (NASDAQ:ZLAB)

DekaBank Deutsche Girozentrale lifted its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 22.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 36,648 shares of the company’s stock after buying an additional 6,648 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Zai Lab were worth $899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors raised its stake in Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after purchasing an additional 465,337 shares during the period. Janus Henderson Group PLC raised its stake in Zai Lab by 9.6% during the first quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after purchasing an additional 387,729 shares during the period. Bamco Inc. NY raised its stake in Zai Lab by 7.3% during the first quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after purchasing an additional 108,991 shares during the period. M&G Plc purchased a new position in Zai Lab during the first quarter worth approximately $7,266,000. Finally, Russell Investments Group Ltd. raised its stake in Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares during the period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ZLAB. JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th.

Insider Transactions at Zai Lab

In other news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction 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 sale, the insider now owns 43,232 shares of the company’s stock, valued at $720,677.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.88% of the company’s stock.

Zai Lab Stock Up 0.8 %

Zai Lab stock opened at $30.46 on Friday. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The firm has a fifty day moving average of $24.02 and a 200-day moving average of $20.04. The firm has a market capitalization of $3.03 billion, a P/E ratio of -9.95 and a beta of 1.04.

Zai Lab (NASDAQ:ZLAB) last released 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 business had revenue of $100.50 million during the quarter, compared to analyst estimates of $94.46 million. On average, research analysts expect that Zai Lab Limited will post -2.97 EPS for the current fiscal 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.