BidaskClub cut shares of Zai Lab (NASDAQ:ZLAB) from a hold rating to a sell rating in a research note released on Wednesday, March 14th.
Separately, JPMorgan Chase upgraded Zai Lab from a neutral rating to an overweight rating and set a $32.00 price target for the company in a research report on Wednesday, February 14th.
Shares of NASDAQ ZLAB traded down $0.07 during mid-day trading on Wednesday, hitting $21.44. The company had a trading volume of 65,378 shares, compared to its average volume of 80,223. Zai Lab has a 1 year low of $19.80 and a 1 year high of $35.74.
Several hedge funds and other institutional investors have recently made changes to their positions in ZLAB. FNY Partners Fund LP purchased a new position in shares of Zai Lab in the third quarter valued at $137,000. Pinebridge Investments L.P. purchased a new position in shares of Zai Lab in the third quarter valued at $945,000. Gilder Gagnon Howe & Co. LLC grew its position in shares of Zai Lab by 64.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 917,123 shares of the company’s stock valued at $19,471,000 after purchasing an additional 360,801 shares in the last quarter. Segantii Capital Management Ltd grew its position in Zai Lab by 68.7% during the fourth quarter. Segantii Capital Management Ltd now owns 382,769 shares of the company’s stock worth $8,126,000 after buying an additional 155,912 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd grew its position in Zai Lab by 28.0% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 64,000 shares of the company’s stock worth $1,359,000 after buying an additional 14,000 shares in the last quarter. Institutional investors own 21.00% of the company’s stock.
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Zai Lab Company Profile
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics for oncology, and autoimmune and infectious disease therapies in China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor for the treatment of ovarian, breast, and lung cancers; ZL-2401, an antibiotic for the treatment of acute bacterial skin/skin structure infections, community-acquired bacterial pneumonias, and urinary tract infections; ZL-2301 that is Phase II clinical trial for the treatment of hepatocellular carcinoma; ZL-3101, a novel steroid-sparing topical product that is in Phase II clinical trial for the treatment of eczema and psoriasis; ZL-2302 for the treatment of non-small cell lung cancer; and ZL-1101, an anti-OX40 antagonistic antibody for the treatment of graft-versus-host disease or systemic lupus erythematosus.
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