Legal & General Group Plc bought a new position in shares of Zai Lab Ltd (NASDAQ:ZLAB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,132 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors also recently made changes to their positions in the business. Marshall Wace North America L.P. boosted its position in Zai Lab by 3.2% during the third quarter. Marshall Wace North America L.P. now owns 168,626 shares of the company’s stock worth $3,285,000 after purchasing an additional 5,234 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Zai Lab by 2.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,118 shares of the company’s stock worth $4,054,000 after purchasing an additional 5,473 shares during the period. Bank of Montreal Can bought a new stake in Zai Lab during the third quarter worth approximately $159,000. Northern Trust Corp bought a new stake in Zai Lab during the second quarter worth approximately $224,000. Finally, Citadel Advisors LLC bought a new stake in Zai Lab during the third quarter worth approximately $333,000. 34.48% of the stock is owned by hedge funds and other institutional investors.

ZLAB opened at $30.56 on Monday. Zai Lab Ltd has a 1-year low of $14.29 and a 1-year high of $33.86. The company has a market capitalization of $1.78 billion, a PE ratio of -13.17 and a beta of 1.20.

ZLAB has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Zai Lab in a research report on Wednesday, November 21st. They set a “buy” rating for the company. BidaskClub raised Zai Lab from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 23rd. Credit Suisse Group initiated coverage on Zai Lab in a research report on Tuesday, January 29th. They issued an “outperform” rating and a $34.70 price objective for the company. Zacks Investment Research raised Zai Lab from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Sunday, January 6th. Finally, ValuEngine raised Zai Lab from a “hold” rating to a “buy” rating in a research report on Thursday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $33.93.

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About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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