Janus Henderson Group PLC Increases Stake in Zai Lab Limited (NASDAQ:ZLAB)

Janus Henderson Group PLC increased its position in Zai Lab Limited (NASDAQ:ZLAB) by 34.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,760,074 shares of the company’s stock after purchasing an additional 2,232,507 shares during the period. Janus Henderson Group PLC owned approximately 0.09% of Zai Lab worth $211,488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its holdings in Zai Lab by 6.4% during the 3rd 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 during the period. Erste Asset Management GmbH purchased a new stake in shares of Zai Lab in the 3rd quarter worth about $357,000. PEAK6 Investments LLC purchased a new stake in Zai Lab in the third quarter worth about $386,000. The Manufacturers Life Insurance Company lifted its stake in shares of Zai Lab by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company’s stock valued at $2,923,000 after purchasing an additional 3,860 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after purchasing an additional 9,364 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ZLAB shares. JPMorgan Chase & Co. boosted their target price on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $30.16 on Wednesday. The firm has a market cap of $3.28 billion, a P/E ratio of -10.89 and a beta of 0.99. Zai Lab Limited has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The firm has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $21.86.

About Zai Lab

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.