FMR LLC trimmed its stake in Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,859 shares of the company's stock after selling 487,202 shares during the period. FMR LLC owned 0.65% of Zai Lab worth $15,567,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. DCF Advisers LLC purchased a new stake in Zai Lab in the second quarter worth about $528,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Zai Lab by 14.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company's stock valued at $3,432,000 after acquiring an additional 18,093 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Zai Lab by 26.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company's stock worth $14,584,000 after acquiring an additional 125,532 shares in the last quarter. Algert Global LLC bought a new stake in Zai Lab during the 3rd quarter worth approximately $1,666,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Zai Lab by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company's stock worth $2,923,000 after purchasing an additional 3,860 shares during the period. 41.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
ZLAB has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Friday, October 25th.
Check Out Our Latest Stock Analysis on ZLAB
Zai Lab Price Performance
Shares of ZLAB stock traded down $0.57 during mid-day trading on Wednesday, hitting $27.16. The company had a trading volume of 589,864 shares, compared to its average volume of 718,032. The stock's 50 day moving average price is $28.15 and its 200-day moving average price is $22.16. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The company has a market capitalization of $2.95 billion, a P/E ratio of -10.01 and a beta of 0.99.
Zai Lab Company Profile
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Free Report)
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.
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