RTW Investments LP Takes Position in Zai Lab Limited (NASDAQ:ZLAB)

RTW Investments LP bought a new stake in shares of Zai Lab Limited (NASDAQ:ZLAB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,509,119 shares of the company’s stock, valued at approximately $65,714,000. Zai Lab comprises about 1.0% of RTW Investments LP’s investment portfolio, making the stock its 29th biggest holding. RTW Investments LP owned approximately 2.29% of Zai Lab at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ZLAB. Pictet Asset Management Holding SA purchased a new stake in Zai Lab in the 4th quarter worth about $31,000. Barclays PLC grew its holdings in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock valued at $97,000 after buying an additional 2,856 shares in the last quarter. US Bancorp DE grew its holdings in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after buying an additional 5,534 shares in the last quarter. Jasper Ridge Partners L.P. purchased a new position in Zai Lab during the 4th quarter valued at about $210,000. Finally, Townsquare Capital LLC purchased a new position in Zai Lab during the 4th quarter valued at about $243,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Zai Lab Stock Up 2.2%

Shares of Zai Lab stock opened at $28.75 on Friday. The company has a market cap of $3.17 billion, a PE ratio of -10.38 and a beta of 1.04. The business has a 50 day moving average of $32.20 and a 200 day moving average of $29.69. Zai Lab Limited has a 52 week low of $16.01 and a 52 week high of $39.77.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $106.49 million during the quarter, compared to the consensus estimate of $118.40 million. On average, research analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current year.

Insider Buying and Selling

In other Zai Lab news, insider Frazor Titus Edmondson III sold 14,544 shares of the firm’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 transaction, the insider now directly owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. This trade represents a 50.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owns 494,117 shares in the company, valued at $17,032,212.99. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,133 shares of company stock worth $7,416,861. 13.88% of the stock is owned by corporate insiders.

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.