Woodline Partners LP Has $46.09 Million Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Woodline Partners LP lifted its position in Zai Lab Limited (NASDAQ:ZLAB) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,759,797 shares of the company’s stock after purchasing an additional 151,835 shares during the quarter. Woodline Partners LP’s holdings in Zai Lab were worth $46,089,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ZLAB. Pictet Asset Management Holding SA bought a new stake in shares of Zai Lab in the 4th quarter worth about $31,000. Barclays PLC grew its holdings in shares of Zai Lab by 337.6% in the 4th 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 last quarter. US Bancorp DE grew its holdings in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after purchasing an additional 5,534 shares during the last quarter. Jasper Ridge Partners L.P. bought a new stake in shares of Zai Lab in the 4th quarter worth about $210,000. Finally, Townsquare Capital LLC bought a new stake in shares of Zai Lab in the 4th quarter worth about $243,000. Institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Up 6.7%

Shares of NASDAQ ZLAB opened at $32.99 on Tuesday. The firm’s 50-day simple moving average is $32.06 and its 200 day simple moving average is $29.69. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -11.91 and a beta of 1.04. Zai Lab Limited has a 12-month low of $16.01 and a 12-month high of $39.77.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.05. The firm had revenue of $106.49 million during the quarter, compared to analysts’ expectations of $118.40 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZLAB. Bank of America reaffirmed a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. JPMorgan Chase & Co. upped their price target 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. Finally, Scotiabank assumed coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target on the stock.

Insiders Place Their Bets

In other Zai Lab news, CFO Yajing Chen sold 924 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $33.11, for a total transaction of $30,593.64. Following the completion of the sale, the chief financial officer now directly owns 27,047 shares of the company’s stock, valued at approximately $895,526.17. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the business’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 sale, the chief executive officer now directly owns 494,117 shares of the company’s stock, valued at $17,032,212.99. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 235,133 shares of company stock valued at $7,416,861. 4.96% of the stock is currently owned by 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.