Jasper Ridge Partners L.P. Invests $210,000 in Zai Lab Limited (NASDAQ:ZLAB)

Jasper Ridge Partners L.P. purchased a new stake in Zai Lab Limited (NASDAQ:ZLAB) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,024 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds have also recently bought and sold shares of ZLAB. D. E. Shaw & Co. Inc. boosted its stake in shares of Zai Lab by 222.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 73,412 shares of the company’s stock valued at $1,923,000 after buying an additional 133,563 shares during the last quarter. Bridgefront Capital LLC bought a new position in Zai Lab during the 4th quarter valued at $296,000. Bayesian Capital Management LP acquired a new position in Zai Lab during the 4th quarter worth $405,000. Bellevue Group AG bought a new stake in shares of Zai Lab in the 4th quarter worth about $340,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Zai Lab by 1,439.8% in the 4th quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company’s stock valued at $517,000 after purchasing an additional 18,472 shares in the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Wall Street Analyst Weigh In

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

Zai Lab Trading Up 0.3 %

Shares of Zai Lab stock opened at $29.24 on Friday. Zai Lab Limited has a twelve month low of $16.01 and a twelve month high of $39.77. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -10.56 and a beta of 1.04. The business’s 50 day simple moving average is $32.75 and its 200-day simple moving average is $29.78.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.12). The company had revenue of $106.49 million during the quarter, compared to the consensus estimate of $118.40 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. Sell-side analysts predict that Zai Lab Limited will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares in the company, valued at approximately $16,029,155.48. The trade was a 9.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the insider now directly owns 30,834 shares of the company’s stock, valued at approximately $1,184,333.94. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,744 shares of company stock worth $4,685,294. 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.