DekaBank Deutsche Girozentrale Sells 6,648 Shares of Zai Lab Limited (NASDAQ:ZLAB)

DekaBank Deutsche Girozentrale cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the company’s stock after selling 6,648 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Zai Lab were worth $518,000 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. Allianz Asset Management GmbH increased its holdings in Zai Lab by 26.1% during the 4th quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock worth $18,571,000 after purchasing an additional 140,461 shares in the last quarter. Capital World Investors boosted its position in shares of Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares during the last quarter. M&G Plc bought a new stake in Zai Lab during the first quarter worth $7,266,000. Wellington Management Group LLP grew its holdings in Zai Lab by 177.6% during the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after buying an additional 3,413,829 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock valued at $4,706,000 after buying an additional 99,355 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Transactions at Zai Lab

In related news, insider Harald Reinhart sold 7,431 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $133,014.90. Following the transaction, the insider now owns 62,619 shares in the company, valued at $1,120,880.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Harald Reinhart sold 7,431 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $133,014.90. Following the sale, the insider now directly owns 62,619 shares in the company, valued at approximately $1,120,880.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the sale, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. The disclosure for this sale can be found here. Insiders sold a total of 55,286 shares of company stock worth $975,291 in the last quarter. Insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

ZLAB has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $58.97.

Zai Lab Price Performance

Shares of Zai Lab stock opened at $21.85 on Friday. The firm has a market cap of $2.18 billion, a PE ratio of -6.26 and a beta of 1.07. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $31.22. The stock has a fifty day moving average price of $18.82 and a 200-day moving average price of $18.06.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). The company had revenue of $100.50 million for the quarter, compared to analysts’ expectations of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. As a group, equities analysts anticipate that Zai Lab Limited will post -2.95 EPS for the current fiscal year.

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.