Raymond James Financial Inc. bought a new position in Zymeworks Inc. (NYSE:ZYME - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 60,642 shares of the company's stock, valued at approximately $888,000. Raymond James Financial Inc. owned 0.09% of Zymeworks as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after acquiring an additional 127,595 shares during the period. State Street Corp grew its stake in shares of Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company's stock worth $14,706,000 after purchasing an additional 67,401 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Zymeworks by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after purchasing an additional 311,107 shares during the period. FMR LLC raised its position in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company's stock worth $924,000 after buying an additional 1,540 shares during the period. 92.89% of the stock is currently owned by institutional investors.
Insider Activity at Zymeworks
In other news, Director Ecor1 Capital, Llc acquired 74,125 shares of the business's stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average cost of $13.39 per share, with a total value of $992,533.75. Following the transaction, the director now owns 15,485,203 shares of the company's stock, valued at $207,346,868.17. This trade represents a 0.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 1,613,394 shares of company stock valued at $19,805,225 in the last 90 days. Corporate insiders own 1.92% of the company's stock.
Zymeworks Stock Up 0.9 %
Shares of NYSE ZYME traded up $0.09 on Wednesday, reaching $10.00. 2,278,903 shares of the company's stock traded hands, compared to its average volume of 614,886. The business's 50 day simple moving average is $12.86 and its two-hundred day simple moving average is $13.60. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The company has a market cap of $695.77 million, a price-to-earnings ratio of -6.67 and a beta of 1.18.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on ZYME. Wells Fargo & Company boosted their target price 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. upgraded 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 lifted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company 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. Finally, Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Two research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.00.
Check Out Our Latest Report on ZYME
About Zymeworks
(
Free Report)
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.
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