Wellington Management Group LLP Sells 1,778,871 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Wellington Management Group LLP decreased its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,657,735 shares of the company’s stock after selling 1,778,871 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Zai Lab worth $174,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZLAB. Clearbridge Investments LLC boosted its position in shares of Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock valued at $48,788,000 after acquiring an additional 989,664 shares during the period. Orion Portfolio Solutions LLC bought a new stake in Zai Lab in the 4th quarter valued at $313,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the 4th quarter worth $31,000. JPMorgan Chase & Co. grew its position in Zai Lab by 17.0% in the 4th quarter. JPMorgan Chase & Co. now owns 161,635 shares of the company’s stock worth $4,233,000 after purchasing an additional 23,510 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Zai Lab during the 4th quarter worth about $365,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Scotiabank started coverage on Zai Lab in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating and issued a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th.

Zai Lab Price Performance

Zai Lab stock opened at $36.43 on Thursday. The business has a 50 day simple moving average of $32.39 and a 200 day simple moving average of $28.64. The company has a market capitalization of $3.99 billion, a PE ratio of -13.15 and a beta of 1.07. Zai Lab Limited has a one year low of $13.48 and a one year high of $39.77.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Equities analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares in the company, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,544 shares of company stock worth $3,940,391 over the last ninety days. Corporate insiders own 13.88% of the company’s stock.

About Zai Lab

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.