Fmr LLC Has $15.57 Million Stake in Zai Lab Limited (NASDAQ:ZLAB)

Fmr LLC decreased its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 43.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 644,859 shares of the company’s stock after selling 487,202 shares during the quarter. Fmr LLC’s holdings in Zai Lab were worth $15,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Zai Lab by 96.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 124,096 shares of the company’s stock valued at $2,151,000 after purchasing an additional 60,927 shares during the last quarter. TD Asset Management Inc grew its holdings in Zai Lab by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock worth $3,847,000 after acquiring an additional 3,000 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Zai Lab during the 2nd quarter worth approximately $270,000. Renaissance Technologies LLC boosted its stake in shares of Zai Lab by 91.9% in the 2nd quarter. Renaissance Technologies LLC now owns 28,214 shares of the company’s stock valued at $489,000 after purchasing an additional 13,514 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Zai Lab by 19.2% in the 2nd quarter. XTX Topco Ltd now owns 29,283 shares of the company’s stock valued at $507,000 after purchasing an additional 4,710 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Price Performance

NASDAQ ZLAB opened at $27.73 on Wednesday. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $36.60. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -10.01 and a beta of 0.99. The company has a fifty day moving average price of $28.15 and a 200-day moving average price of $22.16.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ZLAB shares. JPMorgan Chase & Co. boosted their target price 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 restated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th.

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.