Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zai Lab Limited (NASDAQ:ZLAB – Get Rating) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,200 shares of the company’s stock after acquiring an additional 35,341 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Zai Lab were worth $7,397,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. abrdn plc boosted its position in shares of Zai Lab by 7.6% in the fourth quarter. abrdn plc now owns 8,081 shares of the company’s stock valued at $509,000 after acquiring an additional 574 shares during the period. Renaissance Technologies LLC lifted its stake in Zai Lab by 34.5% in the 4th quarter. Renaissance Technologies LLC now owns 345,200 shares of the company’s stock worth $21,696,000 after purchasing an additional 88,500 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Zai Lab by 1.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 31,800 shares of the company’s stock valued at $1,999,000 after purchasing an additional 300 shares during the period. Alberta Investment Management Corp grew its position in shares of Zai Lab by 77.9% during the 4th quarter. Alberta Investment Management Corp now owns 22,597 shares of the company’s stock valued at $1,420,000 after purchasing an additional 9,897 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new position in shares of Zai Lab in the fourth quarter worth $1,716,000.
Zai Lab Price Performance
ZLAB stock opened at $42.89 on Thursday. The firm has a 50 day simple moving average of $44.37 and a two-hundred day simple moving average of $39.08. The stock has a market cap of $4.20 billion, a PE ratio of -7.73 and a beta of 1.00. Zai Lab Limited has a one year low of $22.51 and a one year high of $123.34.
Analyst Upgrades and Downgrades
Separately, Citigroup lifted their price objective on Zai Lab to $199.00 in a research note on Monday, August 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.00.
Zai Lab Profile
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.
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