Zai Lab Limited (NASDAQ:ZLAB) Position Decreased by State Street Corp

State Street Corp trimmed its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 5.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 153,455 shares of the company’s stock after selling 8,030 shares during the quarter. State Street Corp’s holdings in Zai Lab were worth $3,704,000 at the end of the most recent reporting period.

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

Zai Lab Stock Down 0.5 %

Shares of ZLAB stock opened at $26.47 on Tuesday. 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 12 month low of $13.48 and a 12 month high of $36.60. The business’s 50 day moving average is $28.40 and its two-hundred day moving average is $22.92.

Analysts Set New Price Targets

Several analysts have issued reports 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. boosted their price objective 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.

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.