Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 27.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,685 shares of the company’s stock after selling 25,900 shares during the period. Handelsbanken Fonder AB’s holdings in Zai Lab were worth $1,877,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its position 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. PNC Financial Services Group Inc. raised its position in shares of Zai Lab by 58.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after acquiring an additional 700 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Zai Lab during the 4th quarter worth about $116,000. 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 worth $206,000 after buying an additional 652 shares during the period. Finally, Triatomic Management LP increased its position in Zai Lab by 30.8% during the third quarter. Triatomic Management LP now owns 17,000 shares of the company’s stock worth $413,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Price Performance

NASDAQ:ZLAB opened at $15.91 on Friday. The stock’s 50 day simple moving average is $17.45 and its 200-day simple moving average is $22.58. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $39.50.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Tuesday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The company had revenue of $65.83 million during the quarter, compared to analyst estimates of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. On average, analysts forecast that Zai Lab Limited will post -3.27 earnings per share for the current year.

Insider Activity

In other news, insider Rafael Amado sold 2,544 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the transaction, the insider now owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Ying Du sold 5,787 shares of Zai Lab stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the sale, the chief executive officer now directly owns 1,107,972 shares in the company, valued at $17,893,747.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rafael Amado sold 2,544 shares of Zai Lab stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now owns 20,093 shares in the company, valued at $378,953.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,568 shares of company stock valued at $208,508. Company insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

ZLAB has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Citigroup cut their price target on Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $64.22.

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.