American Century Companies Inc. acquired a new stake in Zai Lab Limited (NASDAQ:ZLAB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,736 shares of the company’s stock, valued at approximately $484,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ZLAB. Quadrant Capital Group LLC raised its holdings in Zai Lab by 17.3% in the 1st quarter. Quadrant Capital Group LLC now owns 591 shares of the company’s stock valued at $79,000 after acquiring an additional 87 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Zai Lab in the 2nd quarter valued at $80,000. Eaton Vance Management acquired a new position in shares of Zai Lab during the 1st quarter worth $96,000. Rockefeller Capital Management L.P. acquired a new position in shares of Zai Lab during the 1st quarter worth $102,000. Finally, American International Group Inc. raised its holdings in shares of Zai Lab by 45.9% during the 1st quarter. American International Group Inc. now owns 953 shares of the company’s stock worth $127,000 after buying an additional 300 shares in the last quarter. 64.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on ZLAB shares. SVB Leerink boosted their price target on Zai Lab from $192.00 to $202.00 and gave the stock an “outperform” rating in a report on Tuesday, June 1st. Zacks Investment Research raised Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Zai Lab has a consensus rating of “Buy” and a consensus price target of $199.85.
Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Monday, August 9th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.21). The company had revenue of $36.94 million during the quarter, compared to analyst estimates of $24.20 million. On average, sell-side analysts anticipate that Zai Lab Limited will post -6.88 earnings per share for the current fiscal year.
In other Zai Lab news, Director John D. Diekman sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $149.50, for a total value of $149,500.00. Following the sale, the director now owns 61,852 shares in the company, valued at approximately $9,246,874. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Harald Reinhart sold 8,000 shares of the company’s stock in a transaction dated Tuesday, July 13th. The shares were sold at an average price of $169.92, for a total value of $1,359,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 308,025 shares of company stock worth $47,752,727 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.
Zai Lab Profile
Zai Lab Ltd. is a biopharmaceutical company. It engages in the discovering, licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need in the fields of oncology, infectious, and autoimmune diseases. The firm’s products include Zejula and Optune. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.
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