Zai Lab Limited (NASDAQ:ZLAB) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 188.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,505,866 shares of the company’s stock after buying an additional 984,041 shares during the period. Allianz Asset Management GmbH’s holdings in Zai Lab were worth $39,442,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in Zai Lab during the 3rd quarter valued at about $225,000. Daiwa Securities Group Inc. boosted its stake in shares of 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. grew its holdings in shares of 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 valued at $231,000 after purchasing an additional 3,514 shares in the last quarter. RBF Capital LLC purchased a new stake in Zai Lab during the 3rd quarter worth approximately $241,000. Finally, Point72 Asset Management L.P. purchased a new stake in Zai Lab during the 3rd quarter worth approximately $325,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upgraded shares of Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th.

Insider Transactions at Zai Lab

In related news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now owns 33,834 shares in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.88% of the company’s stock.

Zai Lab Price Performance

Shares of NASDAQ ZLAB opened at $33.78 on Monday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -12.19 and a beta of 1.02. The stock’s 50-day moving average is $26.90 and its two-hundred day moving average is $25.33. Zai Lab Limited has a 1-year low of $13.48 and a 1-year 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.