Aviva PLC Increases Position in Zai Lab Limited (NASDAQ:ZLAB)

Aviva PLC lifted its stake in Zai Lab Limited (NASDAQ:ZLAB – Get Rating) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,270 shares of the company’s stock after buying an additional 2,500 shares during the period. Aviva PLC’s holdings in Zai Lab were worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ZLAB. EverSource Wealth Advisors LLC purchased a new position in shares of Zai Lab in the 3rd quarter valued at $28,000. Activest Wealth Management purchased a new position in shares of Zai Lab in the 3rd quarter valued at $46,000. ProShare Advisors LLC purchased a new position in shares of Zai Lab in the 3rd quarter valued at $200,000. Vontobel Holding Ltd. purchased a new position in shares of Zai Lab in the 1st quarter valued at $210,000. Finally, Prudential PLC purchased a new position in shares of Zai Lab in the 3rd quarter valued at $218,000. 59.46% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ZLAB shares. JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $96.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, November 18th. Citigroup decreased their price target on shares of Zai Lab from $199.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, November 11th.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $35.56 on Friday. The stock has a market cap of $3.48 billion, a P/E ratio of -5.72 and a beta of 1.22. The firm has a fifty day moving average price of $38.73 and a 200 day moving average price of $37.49. Zai Lab Limited has a 1-year low of $20.98 and a 1-year high of $56.06.

Zai Lab Company Profile

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Zai Lab Ltd. is a biopharmaceutical company, which engages in the developing and commercializing therapies that address medical conditions with unmet needs in oncology, autoimmune disorders, infectious diseases, and neuroscience. Its products include Zejula, Optune, Qinlock, and Nuzyra. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.

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