Also trades as: 9688.HK (HKSE) · $vol 19M
ZLAB Institutional Ownership
Zai Lab Limited
1W: +1.2%
1M: -2.6%
3M: +30.7%
YTD: +40.5%
1Y: -13.1%
3Y: +3.5%
5Y: -75.5%
$23.58
-0.76 (-3.12%)
After Hours: $23.61 (+0.03, +0.13%)
Weekly Expected Move ±9.6%
$19
$22
$24
$26
$29
Credit Risk of going bust: lower than 51% of companies Debt: 8.5% of company value Bonds: none of note held by US funds details ▾
If the stock fell to about $0.43 (down 98%), Zai Lab Limited would be worth roughly what it owes.
Total debt $254.6M against a stock market value of $2.73B.
Distance to default 5.22 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $238.1M (short-term plus half of long-term), stock volatility 50.9%; Altman Z'' -5.11. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
Total debt $254.6M against a stock market value of $2.73B.
Distance to default 5.22 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $238.1M (short-term plus half of long-term), stock volatility 50.9%; Altman Z'' -5.11. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
Overview
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Cash Flow
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Institutional Ownership — ZLAB
115
Institutional Holders
-26 vs prior quarter
0.0%
Ownership
+0.00pp
$819M
Total Invested
17
New Positions
28
Increased
50
Reduced
21
Closed
5.00
Put/Call Ratio
Ownership Trends
Top Institutional Holders (153 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | RTW INVESTMENTS, LP | 6,574,032 | $160M | — | +0.0% | 7Q | SEC ↗ |
| 2 | TCG Crossover Management, LLC NEW | 6,137,627 | $149M | — | +0.0% | 1Q | SEC ↗ |
| 3 | RA CAPITAL MANAGEMENT, L.P. | 5,743,533 | $140M | +36,271 | +0.6% | 2Q | SEC ↗ |
| 4 | ADAR1 Capital Management, LLC | 3,369,034 | $82M | +1,943,667 | +136.4% | 11Q | SEC ↗ |
| 5 | FMR LLC | 2,815,214 | $69M | +1,552,823 | +123.0% | 36Q | SEC ↗ |
| 6 | GOLDMAN SACHS GROUP INC | 2,315,480 | $56M | +2,204,893 | +1993.8% | 15Q | SEC ↗ |
| 7 | Woodline Partners LP NEW | 2,207,293 | $54M | — | +0.0% | 1Q | SEC ↗ |
| 8 | Frazier Life Sciences Management, L.P. | 1,902,320 | $46M | — | +0.0% | 6Q | SEC ↗ |
| 9 | BAMCO INC /NY | 1,623,694 | $40M | -34,624 | -2.1% | 34Q | SEC ↗ |
| 10 | TWO SIGMA INVESTMENTS, LP | 1,299,394 | $32M | +989,671 | +319.5% | 3Q | SEC ↗ |
| 11 | CITADEL ADVISORS LLC | 1,284,706 | $31M | -403,926 | -23.9% | 15Q | SEC ↗ |
| 12 | Rock Springs Capital Management LP | 814,707 | $20M | — | +0.0% | 36Q | SEC ↗ |
| 13 | BlackRock, Inc. | 664,462 | $16M | -200,684 | -23.2% | 8Q | SEC ↗ |
| 14 | C WorldWide Group Holding A/S | 510,000 | $12M | — | +0.0% | 9Q | SEC ↗ |
| 15 | JANE STREET GROUP, LLC | 476,541 | $12M | +208,615 | +77.9% | 3Q | SEC ↗ |
| 16 | B Group, Inc. | 450,646 | $11M | — | +0.0% | 7Q | SEC ↗ |
| 17 | SCHRODER INVESTMENT MANAGEMENT GROUP | 393,167 | $10M | — | +0.0% | 11Q | SEC ↗ |
| 18 | NAN FUNG TRINITY (HK) LTD | 346,466 | $8M | — | +0.0% | 5Q | SEC ↗ |
| 19 | Aberdeen Group plc | 311,294 | $8M | +73,555 | +30.9% | 2Q | SEC ↗ |
| 20 | CITIGROUP INC | 300,775 | $7M | +299,816 | +31263.4% | 30Q | SEC ↗ |
| 21 | Spruce Street Capital LP NEW | 279,110 | $7M | — | +0.0% | 1Q | SEC ↗ |
| 22 | AMERIPRISE FINANCIAL INC | 253,171 | $6M | +9,614 | +3.9% | 3Q | SEC ↗ |
| 23 | BNP PARIBAS ASSET MANAGEMENT Holding S | 246,982 | $6M | +130,422 | +111.9% | 3Q | SEC ↗ |
| 24 | Hennion & Walsh Asset Management, Inc. | 230,418 | $6M | +16,095 | +7.5% | 13Q | SEC ↗ |
| 25 | Hudson Bay Capital Management LP | 215,000 | $5M | +185,000 | +616.7% | 3Q | SEC ↗ |
| 26 | Nantahala Capital Management, LLC NEW | 200,000 | $5M | — | +0.0% | 1Q | SEC ↗ |
| 27 | NEXTBio Capital Management LP | 183,362 | $4M | — | +0.0% | 3Q | SEC ↗ |
| 28 | SUPERSTRING CAPITAL MANAGEMENT LP | 155,813 | $4M | -120,005 | -43.5% | 9Q | SEC ↗ |
| 29 | Tidal Investments LLC | 153,996 | $4M | -29,695 | -16.2% | 2Q | SEC ↗ |
| 30 | MARSHALL WACE, LLP NEW | 147,217 | $4M | — | +0.0% | 1Q | SEC ↗ |
| 31 | D. E. Shaw & Co., Inc. | 141,158 | $3M | +77,915 | +123.2% | 10Q | SEC ↗ |
| 32 | Seven Fleet Capital Management LP | 136,016 | $3M | +58,158 | +74.7% | 2Q | SEC ↗ |
| 33 | Privium Fund Management B.V. | 122,189 | $3M | -10,000 | -7.6% | 19Q | SEC ↗ |
| 34 | STATE STREET CORP | 120,846 | $3M | +2,033 | +1.7% | 33Q | SEC ↗ |
| 35 | ALPS ADVISORS INC | 110,431 | $3M | +19,583 | +21.6% | 17Q | SEC ↗ |
| 36 | DIMENSIONAL FUND ADVISORS LP | 101,997 | $2M | -72,237 | -41.5% | 9Q | SEC ↗ |
| 37 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 76,565 | $2M | +11,317 | +17.3% | 3Q | SEC ↗ |
| 38 | Legal & General Group Plc | 71,461 | $2M | +1,447 | +2.1% | 27Q | SEC ↗ |
| 39 | UBS Group AG | 69,454 | $2M | -434,737 | -86.2% | 27Q | SEC ↗ |
| 40 | Virtus Investment Advisers, LLC | 68,124 | $2M | +20,613 | +43.4% | 6Q | SEC ↗ |
| 41 | Headlands Technologies LLC | 68,010 | $2M | +39,901 | +142.0% | 3Q | SEC ↗ |
| 42 | MORGAN STANLEY | 65,401 | $2M | -28,996 | -30.7% | 36Q | SEC ↗ |
| 43 | DCF Advisers, LLC | 63,500 | $2M | — | +0.0% | 9Q | SEC ↗ |
| 44 | Quadrature Capital Ltd NEW | 39,028 | $950K | — | +0.0% | 1Q | SEC ↗ |
| 45 | WealthPlan Investment Management, LLC | 36,761 | $895K | — | +0.0% | 16Q | SEC ↗ |
| 46 | NORTHERN TRUST CORP | 23,979 | $584K | -1,730 | -6.7% | 33Q | SEC ↗ |
| 47 | GEODE CAPITAL MANAGEMENT, LLC | 23,879 | $581K | — | +0.0% | 30Q | SEC ↗ |
| 48 | Invesco Ltd. | 22,397 | $545K | -4,161 | -15.7% | 34Q | SEC ↗ |
| 49 | XTX Topco Ltd | 18,349 | $447K | -28,723 | -61.0% | 2Q | SEC ↗ |
| 50 | Schonfeld Strategic Advisors LLC NEW | 15,496 | $377K | — | +0.0% | 1Q | SEC ↗ |
Recent Activity
New Positions (17)
| Holder | Shares | Value |
|---|---|---|
| TCG Crossover Management, LLC | 6,137,627 | $149M |
| Woodline Partners LP | 2,207,293 | $54M |
| Spruce Street Capital LP | 279,110 | $7M |
| Nantahala Capital Management, LLC | 200,000 | $5M |
| MARSHALL WACE, LLP | 147,217 | $4M |
| Quadrature Capital Ltd | 39,028 | $950K |
| Schonfeld Strategic Advisors LLC | 15,496 | $377K |
| TWO SIGMA SECURITIES, LLC | 10,134 | $247K |
| Nykredit A/S | 4,150 | $101K |
| Tower Research Capital LLC (TRC) | 1,010 | $25K |
| MERCER GLOBAL ADVISORS INC /ADV | 471 | $11K |
| Federation des caisses Desjardins d | 300 | $7K |
| Arax Advisory Partners | 201 | $5K |
| North Star Investment Management Co | 97 | $2K |
| Ameritas Advisory Services, LLC | 76 | $2K |
| Stone House Investment Management, | 22 | $1K |
| Integrated Wealth Concepts LLC | 3 | $0K |
Sold Out (20)
| Holder | Prev Shares | Prev Value |
|---|---|---|
| Clearbridge Investments, LLC | 1,808,035 | $44M |
| WELLINGTON MANAGEMENT GROUP LLP | 752,858 | $18M |
| BANK OF AMERICA CORP /DE | 388,769 | $9M |
| PRICE T ROWE ASSOCIATES INC /MD | 291,639 | $7M |
| XY Capital Ltd | 202,304 | $5M |
| Campbell & CO Investment Adviser LL | 170,117 | $4M |
| Qube Research & Technologies Ltd | 107,651 | $3M |
| PRINCIPAL FINANCIAL GROUP INC | 101,782 | $2M |
| Walleye Capital LLC | 94,678 | $2M |
| RAYMOND JAMES FINANCIAL INC | 92,837 | $2M |
| HRT FINANCIAL LP | 83,793 | $2M |
| NEOS Investment Management LLC | 75,165 | $2M |
| BAROMETER CAPITAL MANAGEMENT INC. | 66,500 | $2M |
| Long Corridor Asset Management Ltd | 65,800 | $2M |
| TD Asset Management Inc | 37,440 | $911K |
| DekaBank Deutsche Girozentrale | 36,648 | $892K |
| Point72 Asset Management, L.P. | 35,120 | $855K |
| MML INVESTORS SERVICES, LLC | 34,421 | $838K |
| LPL Financial LLC | 31,114 | $757K |
| DRW Securities, LLC | 30,862 | $751K |
Biggest Increases (20)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| GOLDMAN SACHS GROUP INC | +2,204,893 | +1993.8% | 2,315,480 |
| ADAR1 Capital Management, LLC | +1,943,667 | +136.4% | 3,369,034 |
| FMR LLC | +1,552,823 | +123.0% | 2,815,214 |
| TWO SIGMA INVESTMENTS, LP | +989,671 | +319.5% | 1,299,394 |
| CITIGROUP INC | +299,816 | +31263.4% | 300,775 |
| JANE STREET GROUP, LLC | +208,615 | +77.9% | 476,541 |
| Hudson Bay Capital Management LP | +185,000 | +616.7% | 215,000 |
| BNP PARIBAS ASSET MANAGEMENT Holdin | +130,422 | +111.9% | 246,982 |
| D. E. Shaw & Co., Inc. | +77,915 | +123.2% | 141,158 |
| Aberdeen Group plc | +73,555 | +30.9% | 311,294 |
| Seven Fleet Capital Management LP | +58,158 | +74.7% | 136,016 |
| Headlands Technologies LLC | +39,901 | +142.0% | 68,010 |
| RA CAPITAL MANAGEMENT, L.P. | +36,271 | +0.6% | 5,743,533 |
| Virtus Investment Advisers, LLC | +20,613 | +43.4% | 68,124 |
| ALPS ADVISORS INC | +19,583 | +21.6% | 110,431 |
| Hennion & Walsh Asset Management, I | +16,095 | +7.5% | 230,418 |
| SUSQUEHANNA INTERNATIONAL GROUP, LL | +11,317 | +17.3% | 76,565 |
| AMERIPRISE FINANCIAL INC | +9,614 | +3.9% | 253,171 |
| STATE STREET CORP | +2,033 | +1.7% | 120,846 |
| Legal & General Group Plc | +1,447 | +2.1% | 71,461 |
Biggest Decreases (20)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| UBS Group AG | -434,737 | -86.2% | 69,454 |
| CITADEL ADVISORS LLC | -403,926 | -23.9% | 1,284,706 |
| BlackRock, Inc. | -200,684 | -23.2% | 664,462 |
| SUPERSTRING CAPITAL MANAGEMENT LP | -120,005 | -43.5% | 155,813 |
| DIMENSIONAL FUND ADVISORS LP | -72,237 | -41.5% | 101,997 |
| BAMCO INC /NY | -34,624 | -2.1% | 1,623,694 |
| Tidal Investments LLC | -29,695 | -16.2% | 153,996 |
| MORGAN STANLEY | -28,996 | -30.7% | 65,401 |
| XTX Topco Ltd | -28,723 | -61.0% | 18,349 |
| Privium Fund Management B.V. | -10,000 | -7.6% | 122,189 |
| WELLS FARGO & COMPANY/MN | -5,362 | -98.9% | 60 |
| Invesco Ltd. | -4,161 | -15.7% | 22,397 |
| Squarepoint Ops LLC | -4,147 | -21.3% | 15,316 |
| BARCLAYS PLC | -3,239 | -91.7% | 292 |
| GROUP ONE TRADING LLC | -2,627 | -34.0% | 5,091 |
| NORTHERN TRUST CORP | -1,730 | -6.7% | 23,979 |
| Mirae Asset Global Investments Co., | -1,533 | -28.1% | 3,926 |
| Persistent Asset Partners Ltd | -1,299 | -10.5% | 11,040 |
| Basecamp Wealth Advisors LLC | -1,181 | -44.0% | 1,502 |
| China Universal Asset Management Co | -845 | -13.9% | 5,240 |