Y Intercept Hong Kong Ltd Purchases New Stake in Zai Lab Limited (NASDAQ:ZLAB)

Y Intercept Hong Kong Ltd purchased a new position in Zai Lab Limited (NASDAQ:ZLAB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,339 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in shares of Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after purchasing an additional 9,364 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 58.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the last quarter. RBF Capital LLC purchased a new position in shares of Zai Lab during the third quarter valued at approximately $241,000. Dimensional Fund Advisors LP bought a new position in shares of Zai Lab during the second quarter valued at approximately $270,000. Finally, Point72 Asset Management L.P. purchased a new stake in Zai Lab in the third quarter worth $325,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Down 3.0 %

Shares of ZLAB stock opened at $26.15 on Thursday. The business’s fifty day moving average is $28.26 and its 200 day moving average is $22.46. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -9.44 and a beta of 0.99. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60.

Analyst Ratings Changes

ZLAB has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th.

Zai Lab Company 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.