Platinum Investment Management Ltd. Sells 21,062 Shares of Zymeworks Inc. (NYSE:ZYME)

Platinum Investment Management Ltd. trimmed its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,460 shares of the company's stock after selling 21,062 shares during the quarter. Platinum Investment Management Ltd. owned about 0.44% of Zymeworks worth $4,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock worth $1,667,000 after purchasing an additional 650 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after buying an additional 940 shares during the period. FMR LLC lifted its holdings in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after buying an additional 1,525 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Zymeworks by 2.1% in 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. Finally, AlphaQuest LLC grew its stake in shares of Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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Zymeworks Trading Down 1.6 %

Zymeworks stock traded down $0.21 during midday trading on Friday, reaching $12.72. The company's stock had a trading volume of 800,233 shares, compared to its average volume of 475,928. The stock has a market cap of $885.02 million, a PE ratio of -8.48 and a beta of 1.13. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The business has a 50-day moving average price of $13.72 and a 200-day moving average price of $13.70.

Insider Activity at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc bought 11,958 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the transaction, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $165,761.20. Following the transaction, the executive vice president now owns 8,890 shares in the company, valued at approximately $132,638.80. This trade represents a 55.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,507,168 shares of company stock valued at $19,339,774 and have sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

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