Eversept Partners LP Has $2.70 Million Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

Eversept Partners LP cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,930 shares of the company’s stock after selling 32,289 shares during the quarter. Eversept Partners LP owned approximately 0.09% of Zai Lab worth $2,696,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA bought a new position in Zai Lab during the fourth quarter worth about $31,000. Barclays PLC increased its holdings in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after buying an additional 2,856 shares during the last quarter. US Bancorp DE increased its position in Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after buying an additional 5,534 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of Zai Lab in the fourth quarter valued at approximately $243,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Zai Lab by 15.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after acquiring an additional 1,502 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Price Performance

Zai Lab stock opened at $29.71 on Tuesday. The stock has a market cap of $3.26 billion, a P/E ratio of -10.73 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 price is $33.01 and its 200-day moving average price is $29.32.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data 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 business had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, equities analysts expect that Zai Lab Limited will post -2.58 EPS for the current year.

Analyst Upgrades and Downgrades

ZLAB has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of 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 reiterated a “neutral” rating and set a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank assumed coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Thursday, March 27th.

Insider Activity

In other Zai Lab news, CFO Yajing Chen sold 924 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $33.11, for a total value of $30,593.64. Following the sale, the chief financial officer now owns 27,047 shares in the company, valued at approximately $895,526.17. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the sale, the insider now owns 14,328 shares in the company, valued at $472,537.44. This trade represents a 50.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,744 shares of company stock worth $4,685,294. Insiders own 13.88% of the company’s stock.

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.