B Group Inc. Buys New Position in Zai Lab Limited (NASDAQ:ZLAB)

B Group Inc. purchased a new stake in Zai Lab Limited (NASDAQ:ZLAB) during the 4th quarter, HoldingsChannel reports. The firm purchased 400,000 shares of the company’s stock, valued at approximately $10,476,000. Zai Lab comprises approximately 6.4% of B Group Inc.’s investment portfolio, making the stock its 4th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Zai Lab by 82.8% during the 4th quarter. Capital International Investors now owns 264,986 shares of the company’s stock worth $6,940,000 after acquiring an additional 120,000 shares during the period. Marshall Wace LLP bought a new stake in shares of Zai Lab during the fourth quarter valued at approximately $7,569,000. Barclays PLC grew its stake in Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after purchasing an additional 2,856 shares during the period. Townsquare Capital LLC bought a new position in Zai Lab in the fourth quarter worth $243,000. Finally, Dymon Asia Capital Singapore PTE. LTD. bought a new position in Zai Lab in the fourth quarter worth $524,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Zai Lab Price Performance

Shares of Zai Lab stock opened at $28.84 on Monday. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -10.41 and a beta of 1.09. Zai Lab Limited has a 1 year low of $14.48 and a 1 year high of $39.77. The firm’s 50-day moving average is $32.97 and its 200 day moving average is $29.30.

Zai Lab (NASDAQ:ZLAB) last issued 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). The firm had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, equities analysts expect that Zai Lab Limited will post -2.58 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $32.98, for a total value of $479,661.12. Following the completion of the transaction, the insider now owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,744 shares of company stock valued at $4,685,294. 13.88% of the stock is owned by corporate insiders.

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.