Pictet Asset Management Ltd. increased its holdings in shares of Zai Lab Ltd (NASDAQ:ZLAB) by 371.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,875 shares of the company’s stock after purchasing an additional 40,075 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Zai Lab were worth $1,774,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp increased its position in Zai Lab by 43.6% during the 2nd quarter. Northern Trust Corp now owns 44,060 shares of the company’s stock worth $1,536,000 after purchasing an additional 13,384 shares in the last quarter. Renaissance Technologies LLC grew its position in Zai Lab by 131.5% in the second quarter. Renaissance Technologies LLC now owns 388,531 shares of the company’s stock valued at $13,548,000 after acquiring an additional 220,731 shares in the last quarter. Atika Capital Management LLC grew its position in Zai Lab by 40.0% in the second quarter. Atika Capital Management LLC now owns 245,000 shares of the company’s stock valued at $8,544,000 after acquiring an additional 70,000 shares in the last quarter. Jennison Associates LLC acquired a new stake in Zai Lab in the second quarter valued at approximately $9,225,000. Finally, Baillie Gifford & Co. grew its position in Zai Lab by 4,786.1% in the second quarter. Baillie Gifford & Co. now owns 2,086,383 shares of the company’s stock valued at $72,752,000 after acquiring an additional 2,043,683 shares in the last quarter. 60.03% of the stock is owned by hedge funds and other institutional investors.

Shares of ZLAB stock traded up $0.14 during mid-day trading on Thursday, reaching $34.52. 7,176 shares of the company were exchanged, compared to its average volume of 214,345. Zai Lab Ltd has a fifty-two week low of $14.29 and a fifty-two week high of $38.44. The company has a market capitalization of $1.99 billion, a P/E ratio of -13.13 and a beta of 1.33. The business’s 50 day simple moving average is $33.53 and its 200 day simple moving average is $31.29.

ZLAB has been the subject of several recent research reports. Macquarie initiated coverage on shares of Zai Lab in a research report on Friday, July 5th. They issued an “outperform” rating and a $36.54 price objective for the company. China Renaissance Securities initiated coverage on shares of Zai Lab in a research report on Wednesday, September 4th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Leerink Swann set a $48.00 price objective on shares of Zai Lab and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup set a $65.00 price objective on shares of Zai Lab and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.87.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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Institutional Ownership by Quarter for Zai Lab (NASDAQ:ZLAB)

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