Monaco Asset Management SAM Trims Stock Position in Zymeworks Inc. (NYSE:ZYME)

Monaco Asset Management SAM cut its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 95.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the company's stock after selling 285,000 shares during the period. Monaco Asset Management SAM's holdings in Zymeworks were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. AlphaQuest LLC grew its position in shares of Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after buying an additional 2,324 shares during the last quarter. FMR LLC grew its position in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after buying an additional 1,525 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of Zymeworks by 42.7% in the 4th quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock valued at $196,000 after buying an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after buying an additional 940 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Zymeworks in the 3rd quarter valued at $266,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of Zymeworks stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares of the company's stock, valued at approximately $209,690,719.68. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Andrew Moore sold 21,200 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $316,304.00. Following the completion of the sale, the insider now owns 14,741 shares of the company's stock, valued at $219,935.72. This trade represents a 58.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,392,585 shares of company stock worth $17,914,519 and sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZYME. Lifesci Capital began coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Citigroup increased their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. HC Wainwright increased their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, March 10th. Wells Fargo & Company increased their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price target for the company in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Zymeworks Price Performance

Shares of ZYME stock traded down $0.24 during mid-day trading on Tuesday, hitting $12.34. The stock had a trading volume of 664,290 shares, compared to its average volume of 478,381. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm has a market cap of $858.58 million, a PE ratio of -8.23 and a beta of 1.13. The company's 50-day simple moving average is $13.82 and its 200-day simple moving average is $13.68.

Zymeworks 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.