Zymeworks Inc. (NYSE:ZYME - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $13.18, but opened at $12.44. Zymeworks shares last traded at $12.12, with a volume of 123,050 shares traded.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on ZYME shares. JPMorgan Chase & Co. upgraded Zymeworks from a "neutral" rating to an "overweight" rating and set a $18.00 price objective for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted 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. HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Citigroup raised their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zymeworks has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.
View Our Latest Analysis on Zymeworks
Zymeworks Trading Down 7.5 %
The firm has a fifty day moving average of $14.14 and a 200 day moving average of $13.66. The company has a market capitalization of $772.30 million, a P/E ratio of -7.40 and a beta of 1.13.
Insider Transactions at Zymeworks
In other Zymeworks news, EVP Jeffrey T. L. Smith sold 11,110 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $165,761.20. Following the transaction, the executive vice president now owns 8,890 shares of the company's stock, valued at approximately $132,638.80. This represents a 55.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ecor1 Capital, Llc purchased 11,958 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of $14.12 per share, with a total value of $168,846.96. Following the completion of the purchase, the director now owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 603,539 shares of company stock worth $8,384,708 and sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company's stock.
Hedge Funds Weigh In On Zymeworks
Several institutional investors have recently made changes to their positions in ZYME. Empowered Funds LLC increased its holdings in Zymeworks by 5.3% during the third quarter. Empowered Funds LLC now owns 335,661 shares of the company's stock valued at $4,213,000 after buying an additional 17,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Zymeworks by 0.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company's stock worth $24,416,000 after purchasing an additional 14,604 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Zymeworks in the 3rd quarter worth $266,000. Charles Schwab Investment Management Inc. raised its holdings in Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock worth $1,667,000 after purchasing an additional 650 shares during the period. Finally, FMR LLC lifted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after purchasing an additional 1,525 shares in the last quarter. Institutional investors own 92.89% of the company's stock.
Zymeworks Company Profile
(
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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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