Principal Financial Group Inc. Invests $46.17 Million in Zai Lab Limited (NASDAQ:ZLAB)

Principal Financial Group Inc. purchased a new position in shares of Zai Lab Limited (NASDAQ:ZLAB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,762,954 shares of the company’s stock, valued at approximately $46,172,000. Principal Financial Group Inc. owned 1.61% of Zai Lab as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zai Lab during the third quarter worth approximately $225,000. Daiwa Securities Group Inc. boosted its holdings 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 worth $231,000 after purchasing an additional 9,364 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 3,514 shares during the period. RBF Capital LLC acquired a new stake in shares of Zai Lab during the third quarter worth approximately $241,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Zai Lab during the third quarter worth approximately $325,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Stock Up 0.1 %

NASDAQ ZLAB opened at $30.99 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of -11.19 and a beta of 1.02. The company has a 50 day moving average price of $26.75 and a two-hundred day moving average price of $25.11. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $36.60.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upgraded shares of Zai Lab to a “strong-buy” rating in a report on Wednesday, February 5th.

Zai Lab 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.