ETF Managers Group LLC acquired a new position in Zai Lab Limited (NASDAQ:ZLAB – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,931 shares of the company’s stock, valued at approximately $696,000.
Other institutional investors also recently modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in shares of Zai Lab in the fourth quarter worth $28,000. Quent Capital LLC acquired a new position in Zai Lab in the first quarter valued at $47,000. Vontobel Holding Ltd. acquired a new position in Zai Lab in the first quarter valued at $210,000. Ensign Peak Advisors Inc lifted its holdings in Zai Lab by 7.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company’s stock valued at $200,000 after buying an additional 400 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Zai Lab by 21.7% in the third quarter. Macquarie Group Ltd. now owns 6,162 shares of the company’s stock valued at $211,000 after buying an additional 1,098 shares during the period. Institutional investors own 53.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ZLAB. JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $79.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, March 16th. Bank of America dropped their target price on shares of Zai Lab from $75.00 to $62.50 in a report on Monday, June 12th. Finally, Citigroup dropped their target price on shares of Zai Lab from $138.00 to $130.00 in a report on Thursday, May 11th.
Zai Lab Trading Down 0.1 %
Zai Lab (NASDAQ:ZLAB – Free Report) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.43. Zai Lab had a negative net margin of 177.42% and a negative return on equity of 37.58%. The firm had revenue of $62.80 million for the quarter, compared to analyst estimates of $65.21 million. On average, analysts predict that Zai Lab Limited will post -3.08 earnings per share for the current fiscal year.
Zai Lab Profile
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. Its commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.
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