BNP Paribas Financial Markets Sells 5,313 Shares of Zai Lab Limited (NASDAQ:ZLAB)

BNP Paribas Financial Markets lessened its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 80.5% in the third quarter, Holdings Channel.com reports. The fund owned 1,283 shares of the company’s stock after selling 5,313 shares during the quarter. BNP Paribas Financial Markets’ holdings in Zai Lab were worth $31,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Daiwa Securities Group Inc. grew its stake in shares of Zai Lab by 4,851.8% during 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 period. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 58.1% during the third 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. Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab during the 2nd quarter worth about $270,000. Renaissance Technologies LLC increased 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 acquiring an additional 13,514 shares during the last quarter. Finally, XTX Topco Ltd raised its position 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 acquiring an additional 4,710 shares during the period. Institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

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

Zai Lab Stock Performance

Shares of ZLAB opened at $26.22 on Friday. The stock has a 50 day simple moving average of $28.31 and a 200 day simple moving average of $22.51. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The firm has a market capitalization of $2.85 billion, a PE ratio of -9.47 and a beta of 0.99.

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.