Gilder Gagnon Howe & Co. LLC cut its holdings in Zai Lab Ltd (NASDAQ:ZLAB) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,133,732 shares of the company’s stock after selling 24,334 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned approximately 1.95% of Zai Lab worth $93,113,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Zai Lab by 46.0% in the second quarter. Vanguard Group Inc. now owns 2,047,875 shares of the company’s stock worth $168,191,000 after acquiring an additional 645,644 shares during the period. APG Asset Management N.V. lifted its stake in Zai Lab by 69.4% in the second quarter. APG Asset Management N.V. now owns 14,400 shares of the company’s stock worth $1,053,000 after acquiring an additional 5,900 shares during the period. Bellevue Group AG lifted its stake in Zai Lab by 13.7% in the second quarter. Bellevue Group AG now owns 175,100 shares of the company’s stock worth $14,381,000 after acquiring an additional 21,100 shares during the period. TD Asset Management Inc. lifted its stake in Zai Lab by 8.6% in the second quarter. TD Asset Management Inc. now owns 8,809 shares of the company’s stock worth $723,000 after acquiring an additional 700 shares during the period. Finally, Bridgewater Associates LP purchased a new stake in Zai Lab in the second quarter worth about $5,243,000. 81.32% of the stock is owned by institutional investors.
Shares of ZLAB traded down $0.39 during mid-day trading on Friday, hitting $77.91. 311,696 shares of the company traded hands, compared to its average volume of 366,576. Zai Lab Ltd has a 1-year low of $29.43 and a 1-year high of $89.48. The business has a 50 day moving average of $80.23 and a 200 day moving average of $68.44.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Friday, July 31st. Guggenheim increased their price target on shares of Zai Lab from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, August 14th. SVB Leerink increased their price target on shares of Zai Lab from $79.00 to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Zacks Investment Research raised shares of Zai Lab from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Saturday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.75.
About Zai Lab
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.
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