Zai Lab Limited (NASDAQ:ZLAB) Position Lessened by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,657,735 shares of the company’s stock after selling 1,778,871 shares during the quarter. Wellington Management Group LLP owned about 6.07% of Zai Lab worth $174,366,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its position in shares of Zai Lab by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company’s stock worth $2,923,000 after acquiring an additional 3,860 shares during the last quarter. PEAK6 Investments LLC bought a new position in Zai Lab in the 3rd quarter worth about $386,000. Erste Asset Management GmbH acquired a new stake in shares of Zai Lab in the third quarter valued at approximately $357,000. Janus Henderson Group PLC raised its holdings in shares of Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after buying an additional 2,232,507 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Zai Lab during the third quarter worth approximately $325,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Trading Down 2.3 %

NASDAQ ZLAB opened at $36.43 on Thursday. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $39.77. The firm’s fifty day simple moving average is $32.39 and its 200-day simple moving average is $28.64. The company has a market capitalization of $3.99 billion, a PE ratio of -13.15 and a beta of 1.07.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, analysts predict that Zai Lab Limited will post -2.58 EPS for the current year.

Analyst Ratings Changes

ZLAB has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Bank of America restated a “neutral” rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank began coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th.

Insider Buying and Selling

In related news, insider Rafael Amado sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the sale, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. The trade was a 8.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now owns 14,328 shares in the company, valued at approximately $472,537.44. This trade represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,544 shares of company stock worth $3,940,391. Insiders own 13.88% of the company’s stock.

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.