Algert Global LLC Makes New Investment in Zai Lab Limited (NASDAQ:ZLAB)

Algert Global LLC purchased a new position in Zai Lab Limited (NASDAQ:ZLAB - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 69,000 shares of the company's stock, valued at approximately $1,666,000. Algert Global LLC owned approximately 0.07% of Zai Lab as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of ZLAB. TD Asset Management Inc grew its position in Zai Lab by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 221,970 shares of the company's stock worth $3,847,000 after purchasing an additional 3,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock worth $231,000 after buying an additional 3,514 shares during the period. XTX Topco Ltd grew its holdings in shares of Zai Lab by 19.2% during the second quarter. XTX Topco Ltd now owns 29,283 shares of the company's stock valued at $507,000 after buying an additional 4,710 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Zai Lab by 22.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company's stock valued at $899,000 after acquiring an additional 6,648 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Zai Lab by 91.9% in the 2nd quarter. Renaissance Technologies LLC now owns 28,214 shares of the company's stock worth $489,000 after acquiring an additional 13,514 shares during the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

Zai Lab Stock Up 2.1 %

Shares of ZLAB stock traded up $0.58 on Thursday, hitting $28.13. The company had a trading volume of 577,464 shares, compared to its average volume of 1,312,936. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60. The firm has a market cap of $2.80 billion, a P/E ratio of -10.16 and a beta of 1.04. The company has a 50-day moving average price of $27.02 and a 200-day moving average price of $21.61.

Analyst Upgrades and Downgrades

ZLAB has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, October 21st.

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.