Algert Global LLC Takes $1.67 Million Position in Zai Lab Limited (NASDAQ:ZLAB)

Algert Global LLC purchased a new stake in Zai Lab Limited (NASDAQ:ZLAB) in the 3rd quarter, HoldingsChannel reports. The firm purchased 69,000 shares of the company’s stock, valued at approximately $1,666,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 worth $14,584,000 after acquiring an additional 125,532 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Zai Lab by 22.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company’s stock worth $899,000 after buying an additional 6,648 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Zai Lab by 14.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock valued at $3,432,000 after buying an additional 18,093 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of 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 buying an additional 18,654 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zai Lab Stock Performance

NASDAQ ZLAB opened at $28.13 on Thursday. The stock has a market capitalization of $2.80 billion, a PE ratio of -9.95 and a beta of 1.04. The stock has a 50-day simple moving average of $26.88 and a 200 day simple moving average of $21.56. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60.

Zai Lab Company Profile

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.