Vanguard Group Inc. Has $36.50 Million Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Vanguard Group Inc. reduced its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,493,288 shares of the company's stock after selling 365,226 shares during the period. Vanguard Group Inc. owned approximately 3.62% of Zymeworks worth $36,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZYME. AlphaQuest LLC lifted its stake in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after buying an additional 2,324 shares in the last quarter. FMR LLC boosted its stake in Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after purchasing an additional 1,525 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Zymeworks during the 4th quarter valued at $151,000. New York State Common Retirement Fund boosted its position in shares of Zymeworks by 42.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock worth $196,000 after buying an additional 4,000 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of Zymeworks by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock valued at $201,000 after buying an additional 2,216 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 19,748 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $13.87 per share, with a total value of $273,904.76. Following the acquisition, the director now directly owns 15,720,161 shares of the company's stock, valued at approximately $218,038,633.07. This trade represents a 0.13 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have bought 1,296,142 shares of company stock worth $15,586,088. Corporate insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZYME. Wells Fargo & Company increased their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Citigroup upped 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. Finally, Lifesci Capital assumed coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price for the company. Two equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Zymeworks Price Performance

Shares of ZYME traded up $0.26 during mid-day trading on Thursday, reaching $11.51. The company had a trading volume of 190,992 shares, compared to its average volume of 607,799. The company's 50-day moving average is $12.46 and its 200-day moving average is $13.53. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The company has a market capitalization of $801.11 million, a P/E ratio of -7.68 and a beta of 1.18.

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.