Erste Asset Management GmbH Invests $357,000 in Zai Lab Limited (NASDAQ:ZLAB)

Erste Asset Management GmbH bought a new position in Zai Lab Limited (NASDAQ:ZLAB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,100 shares of the company’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZLAB. Daiwa Securities Group Inc. lifted its position in Zai Lab by 4,851.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after acquiring an additional 3,514 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Zai Lab during the second quarter worth $270,000. PEAK6 Investments LLC acquired a new stake in Zai Lab during the third quarter valued at $386,000. Finally, Tidal Investments LLC purchased a new position in Zai Lab in the first quarter valued at about $334,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th. JPMorgan Chase & Co. raised 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.

Zai Lab Stock Performance

Shares of ZLAB opened at $28.31 on Thursday. The firm has a market cap of $3.08 billion, a PE ratio of -10.22 and a beta of 0.99. The firm’s 50 day moving average price is $27.80 and its 200 day moving average price is $21.90. Zai Lab Limited has a twelve month low of $13.48 and a twelve month high of $36.60.

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.