Principal Financial Group Inc. Takes Position in Zai Lab Limited (NASDAQ:ZLAB)

Principal Financial Group Inc. bought a new position in shares of Zai Lab Limited (NASDAQ:ZLAB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,762,954 shares of the company's stock, valued at approximately $46,172,000. Principal Financial Group Inc. owned approximately 1.61% of Zai Lab as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Zai Lab by 26.4% in the third 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 period. Hennion & Walsh Asset Management Inc. lifted its holdings in Zai Lab by 28.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock worth $4,801,000 after purchasing an additional 41,128 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Zai Lab in the fourth quarter valued at about $511,000. Wellington Management Group LLP grew its position 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 purchasing an additional 1,312,115 shares in the last quarter. Finally, Bamco Inc. NY grew its position 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 purchasing an additional 113,869 shares in the last quarter. 41.65% of the stock is owned by institutional investors.

Insider Activity at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.88% of the stock is owned by insiders.

Zai Lab Trading Up 9.0 %

NASDAQ ZLAB traded up $2.79 during trading hours on Friday, hitting $33.78. 2,093,498 shares of the company's stock were exchanged, compared to its average volume of 729,782. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -12.19 and a beta of 1.02. Zai Lab Limited has a 1-year low of $13.48 and a 1-year high of $36.60. The stock has a 50-day simple moving average of $26.90 and a 200 day simple moving average of $25.22.

Analyst Ratings Changes

Separately, Cantor Fitzgerald upgraded shares of Zai Lab to a "strong-buy" rating in a research note on Wednesday, February 5th.

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.