AlphaQuest LLC Purchases 2,324 Shares of Zymeworks Inc. (NYSE:ZYME)

AlphaQuest LLC raised its position in shares of Zymeworks Inc. (NYSE:ZYME) by 480.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,808 shares of the company’s stock after buying an additional 2,324 shares during the quarter. AlphaQuest LLC’s holdings in Zymeworks were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ZYME. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after buying an additional 14,604 shares in the last quarter. State Street Corp lifted its holdings in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after purchasing an additional 67,401 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Zymeworks by 5.1% in the 4th quarter. Empowered Funds LLC now owns 352,753 shares of the company’s stock worth $5,164,000 after purchasing an additional 17,092 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZYME. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a report on Monday, December 16th. Wells Fargo & Company upped their price objective on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Lifesci Capital began coverage on Zymeworks in a report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective on the stock. Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, HC Wainwright upped their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Stock Performance

NYSE ZYME opened at $12.93 on Friday. The company has a market cap of $899.63 million, a P/E ratio of -8.62 and a beta of 1.13. The business’s 50 day moving average price is $13.73 and its 200-day moving average price is $13.67. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

Insider Activity

In other Zymeworks news, insider Paul Andrew Moore sold 21,200 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $316,304.00. Following the transaction, the insider now owns 14,741 shares of the company’s stock, valued at $219,935.72. This represents a 58.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $165,761.20. Following the completion of the transaction, the executive vice president now directly owns 8,890 shares in the company, valued at $132,638.80. This trade represents a 55.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,507,168 shares of company stock valued at $19,339,774 and have sold 89,601 shares valued at $1,336,847. Corporate insiders own 1.92% of the company’s stock.

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.