Zymeworks Inc. (NYSE:ZYME) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 65.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,385 shares of the company's stock after selling 52,471 shares during the period. Massachusetts Financial Services Co. MA's holdings in Zymeworks were worth $401,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in shares of Zymeworks during the 4th quarter valued at about $1,493,000. Schroder Investment Management Group acquired a new position in Zymeworks in the fourth quarter valued at approximately $4,892,000. Norges Bank purchased a new stake in Zymeworks in the 4th quarter worth approximately $2,953,000. JPMorgan Chase & Co. grew its stake in shares of Zymeworks by 185.1% during the 4th quarter. JPMorgan Chase & Co. now owns 111,983 shares of the company's stock worth $1,639,000 after purchasing an additional 72,703 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of Zymeworks during the 4th quarter valued at approximately $288,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZYME shares. Citigroup upped their price objective 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 boosted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Lifesci Capital assumed coverage on shares of Zymeworks in a report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. HC Wainwright boosted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, March 10th. Finally, 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. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 19,748 shares of the firm's stock in a transaction on Friday, January 17th. The stock was bought at an average price of $13.87 per share, with a total value of $273,904.76. Following the transaction, the director now directly owns 15,720,161 shares of the company's stock, valued at approximately $218,038,633.07. This represents a 0.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 1,335,171 shares of company stock valued at $16,132,884. Company insiders own 1.92% of the company's stock.

Zymeworks Trading Up 1.3 %

ZYME stock traded up $0.14 during midday trading on Tuesday, hitting $11.14. 95,576 shares of the company's stock were exchanged, compared to its average volume of 606,647. The stock has a market capitalization of $775.09 million, a PE ratio of -7.43 and a beta of 1.18. The business has a 50-day simple moving average of $12.60 and a two-hundred day simple moving average of $13.56. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

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.