ADAR1 Capital Management LLC Has $27.39 Million Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

ADAR1 Capital Management LLC boosted its stake in Zai Lab Limited (NASDAQ:ZLAB) by 96.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,045,837 shares of the company’s stock after acquiring an additional 513,383 shares during the period. Zai Lab accounts for about 5.5% of ADAR1 Capital Management LLC’s holdings, making the stock its 4th biggest position. ADAR1 Capital Management LLC owned about 0.96% of Zai Lab worth $27,390,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after buying an additional 4,830,646 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Zai Lab during the 4th quarter valued at $46,172,000. Wellington Management Group LLP lifted its position in shares of Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after acquiring an additional 1,312,115 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Zai Lab by 113.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,862,842 shares of the company’s stock worth $48,788,000 after acquiring an additional 989,664 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Zai Lab by 188.6% in the fourth quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company’s stock valued at $39,442,000 after purchasing an additional 984,041 shares in the last quarter. 41.65% of the stock is owned by institutional investors.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares of the company’s stock, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,001 shares of company stock valued at $4,495,143. Insiders own 13.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. increased their price objective on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Scotiabank assumed coverage on Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price for the company. Finally, Bank of America reaffirmed a “neutral” rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $31.77 on Monday. The stock has a market capitalization of $3.48 billion, a PE ratio of -11.47 and a beta of 1.09. The company has a 50-day simple moving average of $32.72 and a two-hundred day simple moving average of $28.88. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $39.77.

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

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.