Hennion & Walsh Asset Management Inc. Raises Stake in Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. increased its stake in shares of Zai Lab Limited (NASDAQ:ZLAB) by 35.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,169 shares of the company’s stock after buying an additional 16,659 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.06% of Zai Lab worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH lifted its holdings in Zai Lab by 26.1% during the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock valued at $18,571,000 after purchasing an additional 140,461 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Zai Lab during the 4th quarter valued at approximately $253,000. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 323.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock worth $159,000 after buying an additional 4,431 shares during the period. Wellington Management Group LLP grew its stake in Zai Lab by 177.6% in the 4th quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock valued at $145,845,000 after buying an additional 3,413,829 shares in the last quarter. Finally, Bellevue Group AG bought a new stake in Zai Lab during the 4th quarter valued at $3,714,000. Institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

ZLAB opened at $17.29 on Tuesday. Zai Lab Limited has a one year low of $13.48 and a one year high of $32.60. The company has a fifty day moving average price of $18.41 and a 200-day moving average price of $19.98.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.38. The business had revenue of $87.15 million during the quarter, compared to analysts’ expectations of $77.07 million. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. During the same period in the previous year, the business earned ($0.51) earnings per share. On average, equities research analysts anticipate that Zai Lab Limited will post -2.78 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $64.57.

Insider Activity at Zai Lab

In other news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the transaction, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Zai Lab news, insider Harald Reinhart sold 7,431 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total transaction of $133,014.90. Following the transaction, the insider now directly owns 62,619 shares in the company, valued at $1,120,880.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua L. Smiley sold 1,988 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The disclosure for this sale can be found here. Insiders have sold 46,357 shares of company stock valued at $857,773 over the last three months. 5.23% 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.