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E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Zai Lab Limited (NASDAQ:ZLAB – Get Rating) by 38.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,587 shares of the company’s stock after acquiring an additional 23,014 shares during the period. Zai Lab makes up about 1.5% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 13th largest holding. E Fund Management Hong Kong Co. Ltd. owned approximately 0.08% of Zai Lab worth $2,747,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in Zai Lab during the 4th quarter worth approximately $28,000. Quent Capital LLC bought a new position in Zai Lab during the first quarter worth $47,000. Vontobel Holding Ltd. bought a new position in Zai Lab during the first quarter worth $210,000. Ensign Peak Advisors Inc lifted its stake in shares of Zai Lab by 7.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company’s stock valued at $200,000 after buying an additional 400 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of Zai Lab by 21.7% in the third quarter. Macquarie Group Ltd. now owns 6,162 shares of the company’s stock valued at $211,000 after buying an additional 1,098 shares in the last quarter. Institutional investors own 53.98% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ZLAB shares. Bank of America dropped their price objective on shares of Zai Lab from $75.00 to $62.50 in a research note on Monday, June 12th. JPMorgan Chase & Co. decreased their price objective on shares of Zai Lab from $79.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, March 16th. Finally, Citigroup decreased their price objective on shares of Zai Lab from $138.00 to $130.00 in a report on Thursday, May 11th.
Zai Lab Stock Down 3.4 %
NASDAQ ZLAB traded down $0.89 during trading hours on Friday, reaching $25.10. 116,385 shares of the company were exchanged, compared to its average volume of 703,954. The stock has a market capitalization of $2.46 billion, a P/E ratio of -6.07 and a beta of 1.15. The business’s 50 day simple moving average is $33.01 and its 200-day simple moving average is $35.45. Zai Lab Limited has a 1 year low of $20.98 and a 1 year high of $53.95.
Zai Lab (NASDAQ:ZLAB – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.43. The firm had revenue of $62.80 million during the quarter, compared to the consensus estimate of $65.21 million. Zai Lab had a negative net margin of 177.42% and a negative return on equity of 37.58%. As a group, sell-side analysts anticipate that Zai Lab Limited will post -3.08 earnings per share for the current year.
Zai Lab Company Profile
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. Its commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.
See Also
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