Price T Rowe Associates Inc. MD Has $54.98 Million Stock Holdings in Zai Lab Limited (NASDAQ:ZLAB)

Posted by Defense World Staff on Mar 14th, 2023

Price T Rowe Associates Inc. MD grew its position in shares of Zai Lab Limited (NASDAQ:ZLAB – Get Rating) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,607,681 shares of the company’s stock after acquiring an additional 141,271 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.64% of Zai Lab worth $54,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Krane Funds Advisors LLC increased its position in shares of Zai Lab by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 40,885 shares of the company’s stock valued at $1,398,000 after acquiring an additional 694 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Zai Lab by 7.3% in the 3rd quarter. Ensign Peak Advisors Inc now owns 5,850 shares of the company’s stock valued at $200,000 after buying an additional 400 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $3,043,000 after buying an additional 6,367 shares in the last quarter. Bellevue Group AG acquired a new position in Zai Lab during the third quarter worth $1,278,000. Finally, Macquarie Group Ltd. lifted its stake in Zai Lab by 21.7% in the third quarter. Macquarie Group Ltd. now owns 6,162 shares of the company’s stock valued at $211,000 after acquiring an additional 1,098 shares during the last quarter. Institutional investors own 59.46% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Zai Lab

In other news, Director William Lis sold 5,434 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $38.31, for a total transaction of $208,176.54. Following the transaction, the director now owns 23,330 shares in the company, valued at $893,772.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director William Lis sold 5,434 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $38.31, for a total transaction of $208,176.54. Following the transaction, the director now directly owns 23,330 shares of the company’s stock, valued at $893,772.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Harald Reinhart sold 11,480 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $40.00, for a total transaction of $459,200.00. Following the completion of the sale, the insider now directly owns 18,958 shares of the company’s stock, valued at approximately $758,320. The disclosure for this sale can be found here. Insiders sold a total of 24,879 shares of company stock worth $990,357 over the last quarter. Company insiders own 5.53% of the company’s stock.

Zai Lab Price Performance

Shares of ZLAB opened at $31.70 on Tuesday. The company’s 50-day moving average is $40.15 and its 200-day moving average is $36.89. Zai Lab Limited has a fifty-two week low of $20.98 and a fifty-two week high of $53.95.

Zai Lab Company Profile

(Get Rating)

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.