Walleye Capital LLC Makes New Investment in Zymeworks Inc. (NYSE:ZYME)

Walleye Capital LLC bought a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 452,804 shares of the company's stock, valued at approximately $6,629,000. Walleye Capital LLC owned approximately 0.66% of Zymeworks as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its position in shares of Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company's stock valued at $14,706,000 after acquiring an additional 67,401 shares during the period. Assenagon Asset Management S.A. grew its holdings in Zymeworks by 93.9% during the fourth 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. Empowered Funds LLC raised its stake in shares of Zymeworks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock valued at $5,164,000 after buying an additional 17,092 shares during the period. Schroder Investment Management Group purchased a new position in shares of Zymeworks during the 4th quarter valued at $4,892,000. Finally, Renaissance Technologies LLC increased its holdings in Zymeworks by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 285,700 shares of the company's stock worth $4,183,000 after acquiring an additional 101,100 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Stock Performance

Zymeworks stock traded up $0.31 during midday trading on Monday, hitting $11.84. 238,034 shares of the company's stock were exchanged, compared to its average volume of 617,532. The stock has a 50-day moving average price of $12.38 and a two-hundred day moving average price of $13.53. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The company has a market cap of $823.44 million, a P/E ratio of -7.89 and a beta of 1.18.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZYME shares. Citigroup increased their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Finally, Lifesci Capital started coverage on Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Two equities research 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 468,356 shares of Zymeworks stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares in the company, valued at $209,690,719.68. The trade was a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders acquired 1,350,347 shares of company stock valued at $16,137,499. 1.92% of the stock is owned by corporate insiders.

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.