SG Americas Securities LLC Buys Shares of 4,241 Zai Lab Limited (NASDAQ:ZLAB)

SG Americas Securities LLC purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,241 shares of the company’s stock, valued at approximately $116,000.

A number of other hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. purchased a new position in Zai Lab during the fourth quarter worth about $28,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Zai Lab by 68.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after purchasing an additional 557 shares during the period. PNC Financial Services Group Inc. increased its holdings in Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the last quarter. Royal Bank of Canada raised its position in Zai Lab by 1,930.1% in the second quarter. Royal Bank of Canada now owns 4,852 shares of the company’s stock valued at $135,000 after purchasing an additional 4,613 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in Zai Lab during the fourth quarter worth $190,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

Zai Lab Trading Up 3.6 %

Zai Lab stock opened at $14.22 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -4.12 and a beta of 1.10. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $39.50. The stock’s fifty day simple moving average is $18.02 and its 200-day simple moving average is $22.99.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share 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 analysts’ expectations of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. Sell-side analysts predict that Zai Lab Limited will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

ZLAB has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup dropped their target price on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $64.22.

Insider Buying and Selling

In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the transaction, the insider now owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction dated 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 directly owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,568 shares of company stock worth $208,508. 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.