Zymeworks Inc. (NYSE:ZYME) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,098 shares of the company's stock after selling 24,091 shares during the period. Wellington Management Group LLP owned approximately 0.32% of Zymeworks worth $3,208,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Barclays PLC raised its holdings in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company's stock worth $1,937,000 after purchasing an additional 127,595 shares during the last quarter. State Street Corp raised its stake 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 buying an additional 67,401 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after buying an additional 311,107 shares during the period. FMR LLC boosted its stake in shares of Zymeworks by 84.2% in 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 during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Zymeworks by 2.1% in the third 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 last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Up 1.2 %

Zymeworks stock traded up $0.14 during midday trading on Thursday, hitting $11.39. 87,096 shares of the stock were exchanged, compared to its average volume of 619,567. The stock has a market capitalization of $792.13 million, a price-to-earnings ratio of -7.59 and a beta of 1.18. The stock's 50-day simple moving average is $12.46 and its 200 day simple moving average is $13.53. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

Insider Activity at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 320,690 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $3,684,728.10. Following the acquisition, the director now owns 16,040,851 shares in the company, valued at $184,309,377.99. This trade represents a 2.04 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 1,296,142 shares of company stock worth $15,586,088. Insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZYME. HC Wainwright lifted their target price on shares of 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 research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price on the stock. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Finally, Citigroup upped their target price on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Two 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Zymeworks 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.