Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $21.00.

Several equities research analysts have recently weighed in on ZYME shares. HC Wainwright increased 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. Lifesci Capital initiated coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of 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. raised shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Finally, Citigroup boosted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th.

Insider Buying and Selling at Zymeworks

In other news, CEO Kenneth Galbraith sold 57,291 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $854,781.72. Following the transaction, the chief executive officer now owns 47,543 shares in the company, valued at $709,341.56. This represents a 54.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Andrew Moore sold 21,200 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $316,304.00. Following the completion of the transaction, the insider now directly owns 14,741 shares of the company's stock, valued at approximately $219,935.72. This represents a 58.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 1,392,585 shares of company stock valued at $17,914,519 and have sold 89,601 shares valued at $1,336,847. Insiders own 1.92% of the company's stock.

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Institutional Investors Weigh In On Zymeworks

A number of large investors have recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in shares of Zymeworks by 5.3% during the third quarter. Empowered Funds LLC now owns 335,661 shares of the company's stock worth $4,213,000 after purchasing an additional 17,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Zymeworks by 0.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company's stock worth $24,416,000 after buying an additional 14,604 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Zymeworks during the third quarter valued at $266,000. Charles Schwab Investment Management Inc. increased its stake in shares of Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock valued at $1,667,000 after purchasing an additional 650 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Zymeworks by 84.2% during the 3rd 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 period. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Stock Performance

Shares of ZYME traded down $0.30 during midday trading on Thursday, hitting $12.25. 577,765 shares of the company traded hands, compared to its average volume of 476,893. The firm has a 50 day moving average of $13.86 and a 200-day moving average of $13.66. Zymeworks has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a market cap of $852.32 million, a price-to-earnings ratio of -8.17 and a beta of 1.13.

About Zymeworks

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.