2 weeks Ago By Defense World Staff
Bank of Montreal Can increased its holdings in shares of Zai Lab Limited ( NASDAQ:ZLAB – Free Report ) by 21.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,893 shares of the company’s stock after purchasing an additional 2,993 shares during the period.
Bank of Montreal Can’s holdings in Zai Lab were worth $442,000 as of its most recent SEC filing. Several other hedge funds and other institutional investors also recently modified their holdings of ZLAB. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab in the fourth quarter valued at approximately $31,000.
China Universal Asset Management Co. Ltd. raised its stake in Zai Lab by 15.
7% during the fourth quarter. China Universal Asset Management Co. Ltd.
now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares during the period. Daiwa Securities Group Inc. increased its stake in Zai Lab by 44.
7% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company’s stock worth $362,000 after acquiring an additional 4,276 shares during the last quarter.
US Bancorp DE grew its stake in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after buying an additional 5,534 shares during the period.
Finally, Geode Capital Management LLC boosted its position in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock worth $1,053,000 after buying an additional 9,107 shares during the period.
41.65% of the stock is currently owned by hedge funds and other institutional investors. Analyst Ratings Changes A number of brokerages have weighed in on ZLAB.
Bank of America restated a “neutral” rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.
Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.
00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $44.
00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Insiders Place Their Bets In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm’s stock in a transaction on Friday, February 28th.
The shares were sold at an average price of $32.98, for a total value of $479,661.12.
Following the sale, the insider now directly owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.
37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website . Also, CEO Ying Du sold 2,945 shares of the business’s stock in a transaction that occurred on Friday, April 4th.
The shares were sold at an average price of $33.11, for a total value of $97,508.95.
Following the sale, the chief executive officer now owns 479,851 shares in the company, valued at approximately $15,887,866.61. This represents a 0.
61 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold 138,744 shares of company stock valued at $4,685,294 over the last 90 days.
13.88% of the stock is currently owned by company insiders. Zai Lab Trading Up 9.
5 % Shares of NASDAQ ZLAB opened at $32.53 on Wednesday. The business has a 50-day moving average price of $33.
08 and a two-hundred day moving average price of $29.34. The firm has a market capitalization of $3.
57 billion, a PE ratio of -11.74 and a beta of 1.09.
Zai Lab Limited has a one year low of $15.00 and a one year high of $39.77.
Zai Lab ( NASDAQ:ZLAB – Get Free Report ) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.
61) by ($0.19). Zai Lab had a negative return on equity of 36.
97% and a negative net margin of 76.14%. The firm had revenue of $109.
07 million during the quarter, compared to analyst estimates of $110.15 million. Research analysts anticipate that Zai Lab Limited will post -2.
58 EPS for the current year. Zai Lab Company Profile ( Free Report ) 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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