Bamco Inc. NY Grows Position in Zai Lab Limited (NASDAQ:ZLAB)

Bamco Inc. NY lifted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,599,865 shares of the company’s stock after buying an additional 108,991 shares during the period. Bamco Inc. NY owned approximately 1.61% of Zai Lab worth $25,630,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ZLAB. SG Americas Securities LLC bought a new position in Zai Lab in the fourth quarter valued at about $116,000. China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 323.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock valued at $159,000 after acquiring an additional 4,431 shares during the period. New York State Common Retirement Fund lifted its holdings in Zai Lab by 4,470.6% in the fourth quarter. New York State Common Retirement Fund now owns 33,548 shares of the company’s stock valued at $917,000 after acquiring an additional 32,814 shares during the period. RWC Asset Management LLP bought a new position in Zai Lab in the fourth quarter valued at about $228,000. Finally, Baader Bank Aktiengesellschaft bought a new position in Zai Lab in the fourth quarter valued at about $253,000. Institutional investors own 41.65% of the company’s stock.

Insider Transactions at Zai Lab

In related news, Director William Lis sold 10,397 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $17.32, for a total transaction of $180,076.04. Following the completion of the sale, the director now directly owns 53,089 shares of the company’s stock, valued at approximately $919,501.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ying Du sold 7,013 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $17.48, for a total value of $122,587.24. Following the completion of the transaction, the chief executive officer now directly owns 1,081,910 shares of the company’s stock, valued at approximately $18,911,786.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Lis sold 10,397 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $17.32, for a total value of $180,076.04. Following the transaction, the director now owns 53,089 shares in the company, valued at $919,501.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,934 shares of company stock worth $1,116,043. 5.23% of the stock is currently owned by company insiders.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB traded down $0.01 during trading on Friday, hitting $18.86. 769,583 shares of the company’s stock were exchanged, compared to its average volume of 481,410. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $32.60. The business’s 50-day simple moving average is $18.54 and its 200 day simple moving average is $18.83. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -5.40 and a beta of 1.06.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.93) by $0.38. The business had revenue of $87.15 million during the quarter, compared to analysts’ expectations of $77.07 million. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. During the same quarter last year, the business posted ($0.51) EPS. On average, sell-side analysts anticipate that Zai Lab Limited will post -2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ZLAB. JPMorgan Chase & Co. lowered their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Monday, July 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $58.97.

Zai Lab Profile

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.