Genesis Investment Management LLP Sells 339,503 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Genesis Investment Management LLP trimmed its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 692,663 shares of the company’s stock after selling 339,503 shares during the quarter. Zai Lab makes up about 3.7% of Genesis Investment Management LLP’s holdings, making the stock its 8th biggest position. Genesis Investment Management LLP owned 0.70% of Zai Lab worth $18,930,000 as of its most recent SEC filing.

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. increased its stake in Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after buying an additional 557 shares during the period. PNC Financial Services Group Inc. increased its stake in Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after buying an additional 700 shares during the period. SG Americas Securities LLC acquired a new position in Zai Lab in the 4th quarter valued at $116,000. Finally, Vontobel Holding Ltd. acquired a new position in Zai Lab in the 1st quarter valued at $210,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ZLAB shares. Citigroup dropped their price objective 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $64.22.

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Joshua L. Smiley sold 1,988 shares of the 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 sale, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock valued at $208,508 in the last 90 days. 5.23% of the stock is currently owned by insiders.

Zai Lab Stock Down 3.5 %

Shares of Zai Lab stock traded down $0.51 on Wednesday, hitting $13.91. The company’s stock had a trading volume of 171,465 shares, compared to its average volume of 637,907. Zai Lab Limited has a 52-week low of $13.66 and a 52-week high of $39.50. The firm has a fifty day moving average price of $18.28 and a 200-day moving average price of $23.12. The company has a market capitalization of $1.38 billion, a P/E ratio of -4.18 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) EPS 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 for the quarter, compared to analyst estimates of $70.41 million. As a group, analysts expect that Zai Lab Limited will post -3.1 earnings per share for the current year.

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.