Janus Henderson Group PLC Purchases 387,729 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Janus Henderson Group PLC lifted its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,428,011 shares of the company’s stock after purchasing an additional 387,729 shares during the quarter. Janus Henderson Group PLC owned 4.46% of Zai Lab worth $70,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZLAB. Wellington Management Group LLP increased its stake in shares of Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after purchasing an additional 3,413,829 shares in the last quarter. Capital World Investors raised its holdings in Zai Lab by 8.9% during the 1st 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 purchased a new stake in Zai Lab in the 1st quarter worth approximately $7,266,000. Brilliance Asset Management Ltd. boosted its stake in shares of Zai Lab by 177.5% during the 4th quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company’s stock valued at $11,914,000 after purchasing an additional 278,841 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Zai Lab by 26.1% in the fourth 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 during the period. 41.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ZLAB. JPMorgan Chase & Co. cut their target price on Zai Lab from $43.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Monday, July 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $58.97.

Zai Lab Trading Down 2.2 %

Shares of NASDAQ:ZLAB traded down $0.42 on Tuesday, hitting $18.37. 464,836 shares of the company were exchanged, compared to its average volume of 621,506. The stock’s 50 day moving average price is $18.50 and its 200 day moving average price is $18.74. The firm has a market capitalization of $1.83 billion, a P/E ratio of -5.38 and a beta of 1.06. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $31.66.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.38. The company had revenue of $87.15 million for the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.51) EPS. On average, equities analysts predict that Zai Lab Limited will post -2.76 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Harald Reinhart sold 7,431 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 62,619 shares of the company’s stock, valued at approximately $1,120,880.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Harald Reinhart sold 7,431 shares of the business’s stock in a transaction 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 sale, the insider now owns 62,619 shares in the company, valued at approximately $1,120,880.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Lis sold 10,397 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $17.32, for a total transaction of $180,076.04. Following the sale, the director now owns 53,089 shares in the company, valued at $919,501.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,934 shares of company stock valued at $1,116,043. 5.23% of the stock is owned by insiders.

Zai Lab 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.