Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its stake in Zai Lab Limited (NASDAQ:ZLAB) by 32.9% in the fourth quarter, HoldingsChannel reports. The firm owned 692,663 shares of the company’s stock after selling 339,503 shares during the period. Zai Lab accounts for 3.7% of Genesis Investment Management LLP’s holdings, making the stock its 8th biggest position. Genesis Investment Management LLP’s holdings in Zai Lab were worth $18,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in shares of Zai Lab in the 4th quarter valued at $28,000. China Universal Asset Management Co. Ltd. boosted its position in 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 acquiring an additional 557 shares during the period. PNC Financial Services Group Inc. boosted its position in Zai Lab by 58.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after acquiring an additional 700 shares during the period. SG Americas Securities LLC acquired a new stake in Zai Lab during the 4th quarter worth about $116,000. Finally, Vontobel Holding Ltd. acquired a new stake in Zai Lab during the 1st quarter worth about $210,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction that occurred 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 directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zai Lab news, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction that occurred 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 directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,568 shares of company stock valued at $208,508. Corporate insiders own 5.23% of the company’s stock.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of recent research reports. Citigroup cut their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $64.22.

Zai Lab Price Performance

Shares of ZLAB stock traded down $0.51 during trading on Wednesday, reaching $13.91. The company had a trading volume of 171,465 shares, compared to its average volume of 637,907. The firm’s 50 day simple moving average is $18.28 and its two-hundred day simple moving average is $23.12. Zai Lab Limited has a one year low of $13.66 and a one year high of $39.50. The company has a market capitalization of $1.38 billion, a PE ratio of -4.18 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The company had revenue of $65.83 million during the quarter, compared to the consensus estimate of $70.41 million. Analysts forecast that Zai Lab Limited will post -3.1 earnings per share for the current year.

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.