Alberta Investment Management Corp Raises Stake in Zai Lab Limited (NASDAQ:ZLAB)

Alberta Investment Management Corp raised its position in shares of Zai Lab Limited (NASDAQ:ZLAB) by 42.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,293 shares of the company’s stock after purchasing an additional 69,740 shares during the quarter. Alberta Investment Management Corp’s holdings in Zai Lab were worth $6,084,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Zai Lab by 26.4% during the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after purchasing an additional 9,107 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Zai Lab by 28.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock valued at $4,801,000 after purchasing an additional 41,128 shares in the last quarter. SG Americas Securities LLC purchased a new position in Zai Lab during the fourth quarter valued at approximately $511,000. Wellington Management Group LLP lifted its holdings in Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after purchasing an additional 1,312,115 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in Zai Lab by 6.4% during the third quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock valued at $46,023,000 after purchasing an additional 113,869 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Insider Activity

In related news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the sale, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.88% of the company’s stock.

Analysts Set New Price Targets

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

Zai Lab Price Performance

Zai Lab stock opened at $30.97 on Thursday. The stock has a market cap of $3.39 billion, a P/E ratio of -11.18 and a beta of 1.02. Zai Lab Limited has a 1 year low of $13.48 and a 1 year high of $36.60. The firm’s 50 day moving average price is $26.66 and its 200-day moving average price is $25.07.

Zai Lab 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.