M&T Bank Corp Boosts Stake in Zai Lab Limited (NASDAQ:ZLAB)

M&T Bank Corp boosted its holdings in Zai Lab Limited (NASDAQ:ZLAB) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,188 shares of the company’s stock after acquiring an additional 2,209 shares during the quarter. M&T Bank Corp’s holdings in Zai Lab were worth $608,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Zai Lab in the 3rd quarter valued at about $225,000. Daiwa Securities Group Inc. grew its position in Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after buying an additional 9,364 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Zai Lab by 58.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after buying an additional 3,514 shares during the period. RBF Capital LLC purchased a new position in Zai Lab in the third quarter valued at about $241,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Zai Lab during the 2nd quarter valued at approximately $270,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Trading Up 3.0 %

Shares of ZLAB opened at $26.97 on Wednesday. The company has a 50-day moving average of $28.22 and a two-hundred day moving average of $22.40. The stock has a market cap of $2.93 billion, a P/E ratio of -9.69 and a beta of 0.99. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $36.60.

Wall Street Analyst Weigh In

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

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.