Tree Line Advisors Hong Kong Ltd. raised its stake in shares of Zai Lab Ltd (NASDAQ:ZLAB) by 25.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 525,000 shares of the company’s stock after purchasing an additional 105,000 shares during the period. Zai Lab accounts for about 10.3% of Tree Line Advisors Hong Kong Ltd.’s investment portfolio, making the stock its 6th biggest holding. Tree Line Advisors Hong Kong Ltd. owned approximately 0.90% of Zai Lab worth $15,493,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC purchased a new position in shares of Zai Lab in the fourth quarter valued at about $4,824,000. Diag Capital Management LP purchased a new stake in shares of Zai Lab in the fourth quarter worth about $2,789,000. RBF Capital LLC purchased a new stake in shares of Zai Lab in the fourth quarter worth about $348,000. Bank of America Corp DE lifted its position in shares of Zai Lab by 20.3% in the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after buying an additional 1,103 shares in the last quarter. Finally, Barclays PLC purchased a new stake in shares of Zai Lab in the fourth quarter worth about $65,000. 36.48% of the stock is owned by institutional investors and hedge funds.
ZLAB stock traded up $0.70 during midday trading on Thursday, reaching $29.38. 60,355 shares of the company traded hands, compared to its average volume of 163,645. Zai Lab Ltd has a 52-week low of $14.29 and a 52-week high of $33.86. The company has a market cap of $1.68 billion, a PE ratio of -11.13 and a beta of 1.22.
Zai Lab Company Profile
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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