201,700 Shares in Zymeworks Inc. (NYSE:ZYME) Bought by Norges Bank

Norges Bank purchased a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 201,700 shares of the company's stock, valued at approximately $2,953,000. Norges Bank owned approximately 0.29% of Zymeworks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company's stock worth $1,937,000 after acquiring an additional 127,595 shares during the last quarter. State Street Corp lifted its stake in Zymeworks by 6.1% during the third quarter. State Street Corp now owns 1,171,777 shares of the company's stock valued at $14,706,000 after buying an additional 67,401 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after buying an additional 311,107 shares during the period. FMR LLC increased its position in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after acquiring an additional 1,525 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company's stock valued at $924,000 after acquiring an additional 1,540 shares during the period. Institutional investors own 92.89% of the company's stock.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 320,690 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $11.49 per share, for a total transaction of $3,684,728.10. Following the completion of the acquisition, the director now directly owns 16,040,851 shares of the company's stock, valued at approximately $184,309,377.99. The trade was a 2.04 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 1,296,142 shares of company stock valued at $15,586,088. Corporate insiders own 1.92% of the company's stock.

Zymeworks Stock Up 0.3 %

Shares of NYSE:ZYME traded up $0.04 on Wednesday, reaching $10.98. The company had a trading volume of 42,406 shares, compared to its average volume of 619,217. The stock has a market capitalization of $763.61 million, a P/E ratio of -7.32 and a beta of 1.18. The stock has a 50-day moving average price of $12.52 and a 200 day moving average price of $13.54. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70.

Analysts Set New Price Targets

Several research firms have weighed in on ZYME. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. HC Wainwright raised their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Wells Fargo & Company upped their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, December 19th. Finally, Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price for the company. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company's lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.