Zymeworks Inc. (NYSE:ZYME) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. cut its stake in Zymeworks Inc. (NYSE:ZYME - Free Report) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,499 shares of the company's stock after selling 57,445 shares during the period. Jupiter Asset Management Ltd. owned 0.54% of Zymeworks worth $5,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock worth $1,667,000 after buying an additional 650 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after buying an additional 940 shares during the last quarter. 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 worth $42,000 after buying an additional 1,525 shares during the last quarter. Stifel Financial Corp raised its position in Zymeworks by 2.1% during 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 last quarter. Finally, AlphaQuest LLC raised its position in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after buying an additional 2,324 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Price Performance

NYSE:ZYME opened at $12.55 on Friday. The firm has a market cap of $873.19 million, a price-to-earnings ratio of -8.37 and a beta of 1.13. The company has a 50 day moving average price of $13.96 and a 200-day moving average price of $13.65. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ZYME. HC Wainwright raised their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday. Lifesci Capital began coverage on shares of Zymeworks in a research report on Tuesday. They set an "outperform" rating and a $30.00 price target for the company. Citigroup raised their price target 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. Wells Fargo & Company raised their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised shares of Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 target price for the company in a report on Monday, December 16th. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.00.

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Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc purchased 11,958 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average price of $14.12 per share, with a total value of $168,846.96. Following the acquisition, the director now owns 14,704,239 shares in the company, valued at $207,623,854.68. The trade was a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Galbraith sold 57,291 shares of Zymeworks stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the sale, the chief executive officer now directly owns 47,543 shares in the company, valued at approximately $709,341.56. This trade represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,392,585 shares of company stock valued at $17,914,519 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is owned by insiders.

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.

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