Zai Lab Limited (NASDAQ:ZLAB) Position Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 43.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,125 shares of the company’s stock after selling 106,397 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of Zai Lab worth $3,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZLAB. Janus Henderson Group PLC boosted its position in Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after acquiring an additional 2,232,507 shares during the period. Wellington Management Group LLP lifted its position in shares of Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after purchasing an additional 1,312,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Zai Lab by 26.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock worth $14,584,000 after purchasing an additional 125,532 shares during the period. Bamco Inc. NY grew its position in Zai Lab by 6.4% during the third quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock valued at $46,023,000 after purchasing an additional 113,869 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Zai Lab in the 3rd quarter valued at approximately $1,666,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on 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 note on Friday, October 25th.

Zai Lab Price Performance

Shares of ZLAB opened at $26.05 on Monday. The business’s 50 day simple moving average is $26.81 and its 200-day simple moving average is $23.61. Zai Lab Limited has a one year low of $13.48 and a one year high of $36.60. The company has a market capitalization of $2.85 billion, a P/E ratio of -9.40 and a beta of 1.00.

Insider Activity at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.88% of the stock is owned by corporate insiders.

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.