Clearbridge Investments LLC Buys 189,192 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Clearbridge Investments LLC boosted its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 97.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 382,578 shares of the company’s stock after buying an additional 189,192 shares during the quarter. Clearbridge Investments LLC owned approximately 0.40% of Zai Lab worth $67,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Axiom Investors LLC DE purchased a new position in Zai Lab during the 2nd quarter worth $58,354,000. Ensign Peak Advisors Inc boosted its holdings in shares of Zai Lab by 16.0% during the second quarter. Ensign Peak Advisors Inc now owns 5,450 shares of the company’s stock valued at $965,000 after acquiring an additional 750 shares during the period. AXA S.A. raised its position in Zai Lab by 60.4% in the second quarter. AXA S.A. now owns 236,586 shares of the company’s stock worth $41,874,000 after acquiring an additional 89,127 shares in the last quarter. Geode Capital Management LLC grew its stake in Zai Lab by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 291,527 shares of the company’s stock valued at $51,190,000 after acquiring an additional 32,041 shares in the last quarter. Finally, FMR LLC lifted its holdings in Zai Lab by 30.7% in the 2nd quarter. FMR LLC now owns 4,415,705 shares of the company’s stock worth $781,536,000 after purchasing an additional 1,037,855 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

In other Zai Lab news, insider Harald Reinhart sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $150.93, for a total transaction of $1,509,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ying Du sold 84,894 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $144.56, for a total value of $12,272,276.64. The disclosure for this sale can be found here. Insiders sold 216,167 shares of company stock worth $30,998,616 in the last three months. Insiders own 7.80% of the company’s stock.

Shares of Zai Lab stock opened at $102.11 on Thursday. Zai Lab Limited has a one year low of $80.46 and a one year high of $193.54. The company has a market cap of $9.74 billion, a P/E ratio of -29.51 and a beta of 1.11. The firm has a fifty day moving average of $129.90 and a two-hundred day moving average of $148.69.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Monday, August 9th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.21). The company had revenue of $36.94 million for the quarter, compared to analyst estimates of $24.20 million. As a group, equities analysts anticipate that Zai Lab Limited will post -6.88 EPS for the current year.

ZLAB has been the subject of a number of research reports. Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 4th. Sanford C. Bernstein initiated coverage on Zai Lab in a report on Tuesday. They issued a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Zai Lab has a consensus rating of “Buy” and an average target price of $199.85.

Zai Lab Profile

Zai Lab Ltd. is a biopharmaceutical company. It engages in the discovering, licensing, developing, and commercializing proprietary therapeutics that address areas of unmet medical need in the fields of oncology, infectious, and autoimmune diseases. The firm’s products include Zejula and Optune. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.

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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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