Capital Group International Inc. CA Purchases 802,622 Shares of Zai Lab Limited (NASDAQ:ZLAB)

Capital Group International Inc. CA grew its position in shares of Zai Lab Limited (NASDAQ:ZLABGet Rating) by 1,256.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 866,477 shares of the company’s stock after buying an additional 802,622 shares during the quarter. Capital Group International Inc. CA owned 0.88% of Zai Lab worth $38,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ZLAB. Vontobel Holding Ltd. purchased a new stake in shares of Zai Lab during the 1st quarter worth approximately $210,000. Aigen Investment Management LP increased its stake in shares of Zai Lab by 56.0% during the 1st quarter. Aigen Investment Management LP now owns 5,502 shares of the company’s stock worth $242,000 after purchasing an additional 1,974 shares during the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Zai Lab by 120.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,933 shares of the company’s stock worth $373,000 after purchasing an additional 3,241 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Zai Lab during the 1st quarter worth approximately $309,000. Finally, abrdn plc increased its stake in shares of Zai Lab by 7.6% during the 4th quarter. abrdn plc now owns 8,081 shares of the company’s stock worth $509,000 after purchasing an additional 574 shares during the last quarter.

Analyst Ratings Changes

Separately, Citigroup lifted their price objective on shares of Zai Lab to $199.00 in a research note on Monday, August 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.00.

Zai Lab Trading Down 1.6 %

Zai Lab stock opened at $49.17 on Thursday. The firm has a 50 day simple moving average of $43.49 and a 200 day simple moving average of $39.13. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -8.86 and a beta of 1.00. Zai Lab Limited has a 1-year low of $22.51 and a 1-year high of $136.18.

About Zai Lab

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

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