Squarepoint Ops LLC Cuts Stake in Zai Lab Ltd (NASDAQ:ZLAB)

Squarepoint Ops LLC reduced its holdings in Zai Lab Ltd (NASDAQ:ZLAB) by 27.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,774 shares of the company’s stock after selling 3,399 shares during the period. Squarepoint Ops LLC’s holdings in Zai Lab were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ZLAB. Vanguard Group Inc purchased a new stake in shares of Zai Lab during the 3rd quarter worth about $14,955,000. Vanguard Group Inc. acquired a new position in shares of Zai Lab during the 3rd quarter valued at about $14,955,000. Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Zai Lab during the 4th quarter valued at about $9,752,000. BlackRock Inc. increased its holdings in shares of Zai Lab by 306.1% during the 4th quarter. BlackRock Inc. now owns 430,710 shares of the company’s stock valued at $10,002,000 after acquiring an additional 324,651 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Zai Lab during the 3rd quarter valued at about $5,320,000. 36.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Zai Lab stock traded down $0.06 during midday trading on Friday, hitting $28.13. 218,835 shares of the company were exchanged, compared to its average volume of 254,461. The company has a market capitalization of $1.64 billion, a PE ratio of -10.66 and a beta of 1.07. Zai Lab Ltd has a 52 week low of $14.29 and a 52 week high of $33.86.

A number of analysts have issued reports on the company. ValuEngine raised Zai Lab from a “hold” rating to a “buy” rating in a report on Thursday, February 7th. BidaskClub upgraded Zai Lab from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $35.90.

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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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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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