Van ECK Associates Corp boosted its position in Zai Lab Limited (NASDAQ:ZLAB) by 884,075.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,835 shares of the company’s stock after acquiring an additional 176,815 shares during the period. Van ECK Associates Corp’s holdings in Zai Lab were worth $31,298,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in Zai Lab by 405.2% in the first quarter. Jennison Associates LLC now owns 1,348,129 shares of the company’s stock valued at $179,881,000 after acquiring an additional 1,081,294 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Zai Lab by 22.9% during the first quarter. JPMorgan Chase & Co. now owns 343,079 shares of the company’s stock worth $45,777,000 after buying an additional 63,929 shares during the last quarter. Sei Investments Co. bought a new position in Zai Lab during the first quarter worth about $2,239,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Zai Lab by 9.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 199,984 shares of the company’s stock worth $35,395,000 after buying an additional 17,084 shares during the last quarter. Finally, Sphera Funds Management LTD. bought a new position in Zai Lab during the first quarter worth about $8,778,000. Institutional investors and hedge funds own 64.16% of the company’s stock.
NASDAQ ZLAB opened at $134.59 on Wednesday. The firm has a market cap of $12.84 billion, a P/E ratio of -38.90 and a beta of 1.11. The stock’s 50-day moving average is $148.65 and its 200-day moving average is $152.82. Zai Lab Limited has a one year low of $72.76 and a one year high of $193.54.
A number of equities analysts have issued reports on ZLAB shares. Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 4th. SVB Leerink raised their target price on Zai Lab from $192.00 to $202.00 and gave the stock an “outperform” rating in a report on Tuesday, June 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $199.85.
In related news, insider Harald Reinhart sold 10,000 shares of Zai Lab stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $150.93, for a total value of $1,509,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ying Du sold 83,858 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $175.70, for a total value of $14,733,850.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,125 shares of company stock worth $46,486,913. 7.80% of the stock is currently owned by insiders.
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.
Recommended Story: Federal Reserve
Want to see what other hedge funds are holding ZLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zai Lab Limited (NASDAQ:ZLAB).
Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.