Geode Capital Management LLC Boosts Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

Geode Capital Management LLC raised its position in Zai Lab Limited (NASDAQ:ZLAB) by 26.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,626 shares of the company’s stock after purchasing an additional 9,107 shares during the period. Geode Capital Management LLC’s holdings in Zai Lab were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in Zai Lab during the third quarter worth approximately $225,000. Daiwa Securities Group Inc. raised its position in shares of Zai Lab by 4,851.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares during the period. China Universal Asset Management Co. Ltd. raised 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 period. RBF Capital LLC purchased a new stake in Zai Lab during the third quarter valued at about $241,000. Finally, Point72 Asset Management L.P. acquired a new stake in Zai Lab during the third quarter worth about $325,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Stock Down 5.9 %

Shares of NASDAQ:ZLAB opened at $24.30 on Friday. The company’s 50-day moving average price is $27.59 and its 200 day moving average price is $23.22. The company has a market cap of $2.66 billion, a PE ratio of -8.77 and a beta of 1.00. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Insider Buying and Selling

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.88% of the company’s stock.

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.