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

China Universal Asset Management Co. Ltd. grew its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 323.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,802 shares of the company’s stock after buying an additional 4,431 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Zai Lab were worth $159,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. UBS Group AG increased its holdings in Zai Lab by 312.4% in the 3rd quarter. UBS Group AG now owns 288,981 shares of the company’s stock valued at $7,025,000 after purchasing an additional 218,907 shares in the last quarter. Bamco Inc. NY grew its position in Zai Lab by 4.5% in the third quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock valued at $38,394,000 after acquiring an additional 67,288 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Zai Lab during the third quarter worth $1,169,000. XY Capital Ltd purchased a new position in shares of Zai Lab in the third quarter valued at $3,397,000. Finally, Hsbc Holdings PLC increased its stake in Zai Lab by 251.1% during the 3rd quarter. Hsbc Holdings PLC now owns 327,781 shares of the company’s stock worth $7,968,000 after buying an additional 234,431 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Stock Up 0.5 %

Shares of NASDAQ:ZLAB opened at $15.52 on Friday. The firm has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $23.55. Zai Lab Limited has a fifty-two week low of $15.24 and a fifty-two week high of $40.42.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The company had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. As a group, analysts expect that Zai Lab Limited will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Morgan Stanley assumed coverage on Zai Lab in a report on Thursday, December 14th. They set an “overweight” rating and a $47.50 price objective on the stock. Finally, Citigroup reduced their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.22.

Insiders Place Their Bets

In other news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now owns 20,093 shares in the company, valued at $378,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the sale, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ying Du sold 5,787 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock valued at $208,508 over the last three months. Company insiders own 5.23% 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.