BNP Paribas Financial Markets Has $31,000 Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

BNP Paribas Financial Markets cut its stake in Zai Lab Limited (NASDAQ:ZLAB) by 80.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,283 shares of the company’s stock after selling 5,313 shares during the period. BNP Paribas Financial Markets’ holdings in Zai Lab were worth $31,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after acquiring an additional 125,532 shares during the last quarter. Algert Global LLC acquired a new stake in Zai Lab during the 3rd quarter valued at $1,666,000. DCF Advisers LLC bought a new position in Zai Lab in the 2nd quarter valued at $528,000. The Manufacturers Life Insurance Company boosted its stake in Zai Lab by 18.9% in the second quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company’s stock worth $2,031,000 after purchasing an additional 18,654 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Zai Lab by 14.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock worth $3,432,000 after purchasing an additional 18,093 shares during the last quarter. Institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $26.22 on Friday. Zai Lab Limited has a 52 week low of $13.48 and a 52 week high of $36.60. The stock has a market capitalization of $2.85 billion, a P/E ratio of -9.47 and a beta of 0.99. The stock has a fifty day moving average of $28.31 and a 200-day moving average of $22.51.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note 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.