Quantinno Capital Management LP Cuts Stock Position in Zai Lab Limited (NASDAQ:ZLAB)

Quantinno Capital Management LP cut its holdings in shares of Zai Lab Limited (NASDAQ:ZLAB) by 28.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,631 shares of the company’s stock after selling 3,803 shares during the quarter. Quantinno Capital Management LP’s holdings in Zai Lab were worth $232,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after buying an additional 2,232,507 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after purchasing an additional 125,532 shares during the period. Bamco Inc. NY lifted its position in shares of Zai Lab by 6.4% during the third quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock worth $46,023,000 after acquiring an additional 113,869 shares in the last quarter. Algert Global LLC purchased a new stake in Zai Lab during the 3rd quarter worth about $1,666,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Zai Lab by 96.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 124,096 shares of the company’s stock worth $2,151,000 after buying an additional 60,927 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $26.18 on Tuesday. Zai Lab Limited has a 52-week low of $13.48 and a 52-week high of $36.60. The company has a fifty day moving average of $28.22 and a 200-day moving average of $22.34. The company has a market capitalization of $2.84 billion, a P/E ratio of -9.45 and a beta of 0.99.

Wall Street Analysts Forecast Growth

ZLAB has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

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.