Zymeworks Inc. (NYSE:ZYME) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lowered its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,569 shares of the company's stock after selling 38,087 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.30% of Zymeworks worth $3,024,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ZYME. Assenagon Asset Management S.A. grew its position in shares of Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. Vestal Point Capital LP boosted its stake in Zymeworks by 39.8% during the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company's stock valued at $7,718,000 after buying an additional 175,000 shares during the last quarter. Barclays PLC boosted its stake in Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after buying an additional 127,595 shares during the last quarter. State Street Corp boosted 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Zymeworks during the fourth quarter valued at approximately $888,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

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Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 320,690 shares of Zymeworks stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $11.49 per share, for a total transaction of $3,684,728.10. Following the acquisition, the director now directly owns 16,040,851 shares of the company's stock, valued at $184,309,377.99. This trade represents a 2.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul Andrew Moore sold 21,200 shares of Zymeworks stock in a transaction on Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $316,304.00. Following the completion of the transaction, the insider now owns 14,741 shares in the company, valued at $219,935.72. This represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,507,168 shares of company stock worth $19,339,774 and have sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Zymeworks Stock Performance

ZYME traded up $0.14 during trading on Thursday, hitting $12.93. 697,501 shares of the stock were exchanged, compared to its average volume of 474,153. The firm has a 50 day simple moving average of $13.76 and a 200 day simple moving average of $13.68. The firm has a market cap of $899.63 million, a price-to-earnings ratio of -8.62 and a beta of 1.13. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70.

About Zymeworks

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.