Hennion & Walsh Asset Management Inc. Acquires 41,128 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Hennion & Walsh Asset Management Inc. boosted its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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 0.17% of Zai Lab worth $4,801,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Zai Lab by 26.4% during 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 in the last quarter. M&T Bank Corp grew its position in Zai Lab by 9.6% in the third quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock valued at $608,000 after acquiring an additional 2,209 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Zai Lab in the third quarter valued at $369,000. Y Intercept Hong Kong Ltd acquired a new position in Zai Lab during the third quarter worth $225,000. Finally, XTX Topco Ltd lifted its holdings in shares of Zai Lab by 8.0% during the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock valued at $763,000 after acquiring an additional 2,335 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Stock Up 1.3 %

Zai Lab stock opened at $24.60 on Thursday. The stock has a 50-day simple moving average of $27.01 and a 200 day simple moving average of $23.45. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -8.88 and a beta of 1.00. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $36.60.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ZLAB. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on 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.