Hennion & Walsh Asset Management Inc. Has $4.80 Million Position in Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) by 28.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,317 shares of the company's stock after acquiring an additional 41,128 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.17% of Zai Lab worth $4,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Zai Lab by 26.4% during the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock valued at $1,053,000 after purchasing an additional 9,107 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of Zai Lab by 6.4% during the 3rd quarter. Bamco Inc. NY now owns 1,906,520 shares of the company's stock worth $46,023,000 after buying an additional 113,869 shares during the last quarter. DCF Advisers LLC bought a new stake in shares of Zai Lab during the 2nd quarter worth about $528,000. Wellington Management Group LLP boosted its holdings in shares of Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock worth $203,660,000 after buying an additional 1,312,115 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake 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 valued at $14,584,000 after buying an additional 125,532 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ZLAB shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st.

Insider Activity

In related news, insider Rafael Amado sold 7,583 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the transaction, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.88% of the stock is currently owned by corporate insiders.

Zai Lab Price Performance

NASDAQ:ZLAB traded up $0.78 during trading hours on Thursday, hitting $25.38. The company's stock had a trading volume of 449,190 shares, compared to its average volume of 622,199. The company has a market capitalization of $2.78 billion, a P/E ratio of -9.16 and a beta of 1.00. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60. The stock has a fifty day simple moving average of $27.01 and a 200-day simple moving average of $23.45.

About Zai Lab

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.