Price T Rowe Associates Inc. MD Acquires 141,271 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Price T Rowe Associates Inc. MD boosted its stake in Zai Lab Limited (NASDAQ:ZLAB – Get Rating) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607,681 shares of the company’s stock after purchasing an additional 141,271 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Zai Lab were worth $54,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ZLAB. Krane Funds Advisors LLC raised its stake in shares of Zai Lab by 1.7% during the third quarter. Krane Funds Advisors LLC now owns 40,885 shares of the company’s stock worth $1,398,000 after acquiring an additional 694 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Zai Lab by 7.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company’s stock worth $200,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Zai Lab by 7.7% in the third quarter. Bank of New York Mellon Corp now owns 88,957 shares of the company’s stock worth $3,043,000 after purchasing an additional 6,367 shares during the last quarter. Bellevue Group AG purchased a new stake in Zai Lab during the third quarter valued at about $1,278,000. Finally, Macquarie Group Ltd. grew its stake in shares of Zai Lab by 21.7% during the third quarter. Macquarie Group Ltd. now owns 6,162 shares of the company’s stock valued at $211,000 after buying an additional 1,098 shares during the last quarter. 59.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their target price on Zai Lab from $96.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, November 18th.

Zai Lab Price Performance

Shares of ZLAB opened at $31.70 on Tuesday. Zai Lab Limited has a twelve month low of $20.98 and a twelve month high of $53.95. The firm has a fifty day simple moving average of $40.15 and a two-hundred day simple moving average of $36.89.

Insider Transactions at Zai Lab

In related news, insider Harald Reinhart sold 11,480 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $40.00, for a total transaction of $459,200.00. Following the transaction, the insider now owns 18,958 shares in the company, valued at approximately $758,320. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Frazor Titus Edmondson III sold 7,965 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $40.55, for a total value of $322,980.75. Following the completion of the sale, the insider now owns 19,400 shares of the company’s stock, valued at $786,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Harald Reinhart sold 11,480 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $40.00, for a total transaction of $459,200.00. Following the transaction, the insider now directly owns 18,958 shares in the company, valued at $758,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,879 shares of company stock worth $990,357. Company insiders own 5.53% of the company’s stock.

Zai Lab Profile

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Zai Lab Ltd. is a biopharmaceutical company, which engages in the developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders, infectious diseases, and neuroscience. Its products include Zejula, Optune, Qinlock, and Nuzyra. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.