Vivo Capital LLC Decreases Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Vivo Capital LLC trimmed its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 9.4% during the 4th quarter, Holdings Channel reports. The fund owned 411,677 shares of the company’s stock after selling 42,929 shares during the period. Zai Lab makes up approximately 0.9% of Vivo Capital LLC’s investment portfolio, making the stock its 22nd biggest position. Vivo Capital LLC’s holdings in Zai Lab were worth $11,251,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings 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 acquiring an additional 557 shares in the last quarter. Shell Asset Management Co. increased its position in Zai Lab by 8.3% during the third quarter. Shell Asset Management Co. now owns 8,475 shares of the company’s stock valued at $206,000 after acquiring an additional 652 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Zai Lab by 58.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after acquiring an additional 700 shares during the period. Profund Advisors LLC raised its stake in shares of Zai Lab by 4.9% in the third quarter. Profund Advisors LLC now owns 19,777 shares of the company’s stock valued at $481,000 after acquiring an additional 929 shares during the period. Finally, Aviva PLC raised its stake in shares of Zai Lab by 2.5% in the third quarter. Aviva PLC now owns 56,770 shares of the company’s stock valued at $1,380,000 after acquiring an additional 1,400 shares during the period. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zai Lab

In other 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 transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction 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 sale, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 5,787 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,568 shares of company stock worth $208,508. Company insiders own 5.23% of the company’s stock.

Zai Lab Stock Up 26.1 %

ZLAB stock traded up $4.32 during trading on Thursday, hitting $20.89. The company had a trading volume of 1,442,110 shares, compared to its average volume of 622,904. The firm has a market capitalization of $2.07 billion, a P/E ratio of -5.97 and a beta of 1.11. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $39.50. The company has a 50 day simple moving average of $16.78 and a 200-day simple moving average of $22.12.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.38. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The business had revenue of $87.15 million for the quarter, compared to the consensus estimate of $77.07 million. During the same quarter last year, the firm posted ($0.51) EPS. Sell-side analysts forecast that Zai Lab Limited will post -3.27 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Citigroup reduced their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $64.22.

Zai Lab Company 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.