Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by State Street Corp

State Street Corp lowered its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,455 shares of the company’s stock after selling 8,030 shares during the period. State Street Corp owned approximately 0.15% of Zai Lab worth $3,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after purchasing an additional 9,364 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the period. RBF Capital LLC acquired a new position in Zai Lab in the 3rd quarter worth $241,000. Dimensional Fund Advisors LP acquired a new stake in shares of Zai Lab during the second quarter valued at about $270,000. Finally, Point72 Asset Management L.P. purchased a new position in Zai Lab in the third quarter valued at about $325,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Stock Down 0.5 %

Shares of NASDAQ:ZLAB opened at $26.47 on Tuesday. The company’s 50-day moving average price is $28.40 and its 200 day moving average price is $22.92. The company has a market cap of $2.88 billion, a PE ratio of -9.56 and a beta of 0.99. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

About Zai Lab

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.