ZAI LAB LTD ZLAB
ADR · ADR · CUSIP 98887Q104 · ISIN US98887Q1040
Zai Lab is an innovative, research-based, commercial stage biopharmaceutical company based in China and the U.S. focused on bringing transformative medicines for cancer, autoimmune and infectious diseases to patients in China and around the world.
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersShanghai, People's Republic of China
- Websitezailaboratory.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $27.68. Options: 6 managers hold calls ($1.9m notional), 8 hold puts ($5.5m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 171 |
| Q4 2022 | 167 |
| Q1 2023 | 162 |
| Q2 2023 | 139 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 75 | 81 |
| Q1 2023 | 85 | 65 |
| Q2 2023 | 65 | 89 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $7.7m | $1.4m | 0.19 |
| Q4 2022 | $8.5m | $6.7m | 0.79 |
| Q1 2023 | $5.5m | $6.0m | 1.09 |
| Q2 2023 | $1.9m | $5.5m | 2.84 |
Biggest buyers
| JANUS HENDERSON GROUP PLC | Added | +1.8m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +760.3k |
| Capital World Investors | Added | +557.7k |
| Balyasny Asset Management L.P. | New | +395.9k |
| VIKING GLOBAL INVESTORS LP | Added | +298.2k |
| Capital International Investors | Added | +250.2k |
| PFM Health Sciences, LP | New | +246.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +215.7k |
| Rock Springs Capital Management LP | Added | +162.7k |
| Legal & General Group Plc | Added | +162.0k |
Biggest sellers
| FMR LLC | Reduced | -4.2m |
| BlackRock Inc. | Reduced | -3.8m |
| CREDIT SUISSE AG/ | Sold out | -2.2m |
| Invesco Ltd. | Reduced | -1.2m |
| Capital International, Inc./CA/ | Reduced | -705.7k |
| VANGUARD GROUP INC | Sold out | -677.9k |
| STATE STREET CORP | Reduced | -616.1k |
| Segantii Capital Management Ltd | Reduced | -482.8k |
| GILDER GAGNON HOWE & CO LLC | Reduced | -468.1k |
| Tree Line Advisors (Hong Kong) Ltd. | Sold out | -460.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.6m59.2k shares |
| CITADEL ADVISORS LLC | Reduced | $219.1k7.9k shares |
| GROUP ONE TRADING LLC | Added | $49.9k1.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $16.0k600 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
| Cutler Group LLC / CA | Unchanged | $01.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.9m67.5k shares |
| GROUP ONE TRADING LLC | Added | $1.1m39.5k shares |
| Jefferies Financial Group Inc. | New | $926.2k33.4k shares |
| SIMPLEX TRADING, LLC | Added | $740.0k26.7k shares |
| JANE STREET GROUP, LLC | New | $435.4k15.7k shares |
| CITADEL ADVISORS LLC | Added | $379.9k13.7k shares |
| Cutler Group LLC / CA | Unchanged | $25.0k1.5k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| RTW INVESTMENTS, LP 13G · institution +4.2 pts · filed 2026-02-17 | 6.3% |
| Qiming Venture Partners IV, L.P. 13G · exempt (held before listing) filed 2025-08-12 | 6.0% |
| TCG Crossover GP II, LLC 13G · passive investor new · filed 2026-06-11 | 5.3% |
| RA CAPITAL MANAGEMENT, L.P. 13G · passive investor new · filed 2026-04-06 | 5.2% |
Fell to 5% or below in the last year: Qiming Corporate GP IV, Ltd (4.4%, 2026-02-13; now reported by Qiming Venture Partners IV, L.P.)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 1 | $285.4k | 2 | $2.2m | — |
| Q1 2022 | 0 | — | 2 | $153.0k | — |
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 2 | $351.7k | — |
| Q1 2023 | 0 | — | 3 | $990.4k | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| Capital World Investors 0.03% of their portfolio | 5.2m $144.8m | Added +557.7k |
| JANUS HENDERSON GROUP PLC 0.06% of their portfolio | 3.7m $102.2m | Added +1.8m |
| Invesco Ltd. 0.03% of their portfolio | 3.6m $100.2m | Reduced -1.2m |
| VIKING GLOBAL INVESTORS LP 0.30% of their portfolio | 2.6m $72.9m | Added +298.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 2.6m $72.8m | Added +215.7k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 2.1m $57.5m | Added +760.3k |
| FMR LLC 0.00% of their portfolio | 2.0m $54.7m | Reduced -4.2m |
| Segantii Capital Management Ltd 2.93% of their portfolio | 1.8m $49.8m | Reduced -482.8k |
| BAMCO INC /NY/ 0.12% of their portfolio | 1.5m $41.9m | Added +86.8k |
| Genesis Investment Management, LLP 4.06% of their portfolio | 1.4m $37.4m | Reduced -217.5k |
| Rock Springs Capital Management LP 0.81% of their portfolio | 1.2m $33.9m | Added +162.7k |
| Capital International Investors 0.01% of their portfolio | 966.9k $26.8m | Added +250.2k |
| Legal & General Group Plc 0.01% of their portfolio | 934.6k $25.9m | Added +162.0k |
| Paradigm Biocapital Advisors LP 1.94% of their portfolio | 865.3k $24.0m | Added +84.7k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 811.3k $22.5m | Added +15.1k |
| HSG Holding Ltd 2.20% of their portfolio | 694.6k $19.3m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 669.7k $18.6m | Reduced -616.1k |
| BlackRock Inc. 0.00% of their portfolio | 591.8k $16.4m | Reduced -3.8m |
| M&G INVESTMENT MANAGEMENT LTD 0.09% of their portfolio | 538.7k $15.1m | Added +10.0k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 474.0k $13.1m | Added +143.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 458.3k $15.2m | Unchanged |
| Vivo Capital, LLC 0.85% of their portfolio | 445.5k $12.4m | Added +28.9k |
| Capital International, Inc./CA/ 0.22% of their portfolio | 439.9k $12.2m | Reduced -705.7k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 395.9k $11.0m | New |
| FIL Ltd 0.01% of their portfolio | 394.5k $10.9m | Added +30.1k |
| AXA S.A. 0.03% of their portfolio | 321.0k $8.9m | Added +14.4k |
| PFM Health Sciences, LP 0.28% of their portfolio | 246.7k $6.8m | New |
| MORGAN STANLEY 0.00% of their portfolio | 241.4k $6.7m | Reduced -93.8k |
| Privium Fund Management B.V. 1.83% of their portfolio | 240.7k $6.4m | Unchanged |
| PICTET ASSET MANAGEMENT SA 0.01% of their portfolio | 232.2k $6.4m | Reduced -34.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 226.6k $6.3m | Added +103.7k |
| Woodline Partners LP 0.07% of their portfolio | 223.0k $6.2m | Reduced -113.9k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 203.3k $5.6m | Added +155.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 199.4k $5.5m | Reduced -83.2k |
| Robeco Institutional Asset Management B.V. 0.01% of their portfolio | 196.7k $5.5m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 194.0k $5.4m | Reduced -91.5k |
| Polar Capital Holdings Plc 0.03% of their portfolio | 181.3k $5.0m | Added +11.7k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 165.2k $2.7m | Added +96.0k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 147.1k $4.1m | Added +19.0k |
| Atika Capital Management LLC 0.51% of their portfolio | 145.0k $4.0m | Reduced -14.5k |
| PLATINUM INVESTMENT MANAGEMENT LTD 0.13% of their portfolio | 134.8k $3.7m | Unchanged |
| Bridgewater Associates, LP 0.02% of their portfolio | 134.7k $3.7m | Reduced -8.1k |
| CITIGROUP INC 0.00% of their portfolio | 125.7k $3.5m | Reduced -386.9k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 118.9k $3.3m | Reduced -89.6k |
| Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio | 113.0k $3.1m | Reduced -18.3k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 108.6k $3.1m | Unchanged |
| Zeal Asset Management Ltd 14.16% of their portfolio | 106.2k $2.9m | Reduced -198.6k |
| TD Asset Management Inc 0.00% of their portfolio | 101.1k $2.8m | Added +12.9k |
| GILDER GAGNON HOWE & CO LLC 0.04% of their portfolio | 100.6k $2.8m | Reduced -468.1k |
| Handelsbanken Fonder AB 0.01% of their portfolio | 94.6k $2.6m | Reduced -570 |
| Taikang Asset Management (Hong Kong) Co Ltd 0.61% of their portfolio | 94.5k $20.5k | Unchanged |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 93.3k $2.6m | Reduced -82.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 87.4k $2.4m | Reduced -10.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 85.4k $2.4m | Reduced -105.6k |
| INTERNATIONAL BIOTECHNOLOGY TRUST PLC 0.67% of their portfolio | 79.0k $2.2m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 74.3k $2.1m | Reduced -2.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 71.3k $2.0m | Reduced -392.9k |
| ALPS ADVISORS INC 0.02% of their portfolio | 70.6k $2.0m | Added +2.0k |
| UBS Group AG 0.00% of their portfolio | 70.1k $1.9m | Reduced -127.4k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 70.0k $1.9m | Reduced -51.1k |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 66.6k $1.8m | Added +36.4k |
| CAPITAL INTERNATIONAL SARL 0.08% of their portfolio | 65.2k $1.8m | Reduced -117.0k |
| CAPITAL FUND MANAGEMENT S.A. 0.03% of their portfolio | 64.7k $1.8m | New |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio | 59.0k $1.6m | Added +1.0k |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 57.2k $1.6m | New |
| ABN AMRO INVESTMENT SOLUTIONS 0.03% of their portfolio | 56.8k $1.6m | Unchanged |
| AVIVA PLC 0.01% of their portfolio | 55.4k $1.5m | Added +1.8k |
| Eversept Partners, LP 0.16% of their portfolio | 55.2k $1.5m | Reduced -116.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 54.0k $1.5m | Reduced -470 |
| OLD MISSION CAPITAL LLC 0.05% of their portfolio | 47.8k $1.3m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 43.3k $1.2m | Added +15.8k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 37.5k $1.1m | Reduced -1.2k |
| WealthPlan Investment Management, LLC 0.31% of their portfolio | 37.4k $1.0m | Reduced -2.0k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 31.0k $860.7k | New |
| KBC Group NV 0.00% of their portfolio | 30.1k $835.0k | Added +17.0k |
| Squarepoint Ops LLC 0.00% of their portfolio | 26.9k $745.9k | New |
| GSA CAPITAL PARTNERS LLP 0.07% of their portfolio | 26.5k $735.0k | New |
| INDUS CAPITAL PARTNERS, LLC 1.41% of their portfolio | 25.3k $700.3k | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 24.3k $674.0k | Unchanged |
| Alberta Investment Management Corp 0.01% of their portfolio | 22.0k $610.1k | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 19.9k $552.9k | Reduced -177.1k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 19.4k $537.2k | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 19.0k $526.3k | Reduced -264.7k |
| PROFUND ADVISORS LLC 0.03% of their portfolio | 18.8k $522.7k | Reduced -2.3k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 18.2k $504.7k | Reduced -2.4k |
| RWC Asset Management LLP 0.02% of their portfolio | 17.0k $472.1k | Unchanged |
| Long Corridor Asset Management Ltd 0.48% of their portfolio | 16.0k $443.7k | Unchanged |
| Greenwoods Asset Management Hong Kong Ltd. 0.02% of their portfolio | 15.1k $418.7k | Unchanged |
| Erste Asset Management GmbH 0.01% of their portfolio | 15.1k $399.4k | Unchanged |
| RBF Capital, LLC 0.03% of their portfolio | 15.0k $415.9k | Unchanged |
| MARSHALL WACE, LLP 0.00% of their portfolio | 14.9k $412.0k | New |
| SIMPLEX TRADING, LLC 0.02% of their portfolio | 14.6k $404.0k | New |
| PRUDENTIAL PLC 0.00% of their portfolio | 14.5k $400.9k | Added +6.6k |
| XTX Topco Ltd 0.07% of their portfolio | 14.1k $391.1k | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 13.3k $367.7k | New |
| Triatomic Management LP 1.14% of their portfolio | 13.0k $360.5k | New |
| Swedbank AB 0.00% of their portfolio | 12.8k $354.9k | Unchanged |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 12.7k $352.0k | Reduced -24.1k |
| VIRTUS ADVISERS, LLC 0.20% of their portfolio | 12.4k $344.5k | Added +3.6k |
| Jefferies Financial Group Inc. 0.01% of their portfolio | 12.1k $336.2k | New |