Commonwealth Equity Services LLC Increases Stock Position in Zymeworks Inc. (NYSE:ZYME)

Commonwealth Equity Services LLC boosted its position in Zymeworks Inc. (NYSE:ZYME) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,960 shares of the company’s stock after acquiring an additional 4,294 shares during the period. Commonwealth Equity Services LLC’s holdings in Zymeworks were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ZYME. Barclays PLC grew its stake in shares of Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares during 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 buying an additional 67,401 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 buying an additional 311,107 shares during the last quarter. FMR LLC increased its stake in shares of 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 buying an additional 1,525 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after acquiring an additional 1,540 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Lifesci Capital began coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target on the stock. Citigroup lifted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, HC Wainwright increased their target price on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Two equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Stock Performance

ZYME stock opened at $10.95 on Friday. The firm has a 50 day moving average price of $13.31 and a 200-day moving average price of $13.70. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The firm has a market capitalization of $761.87 million, a price-to-earnings ratio of -7.30 and a beta of 1.18.

Insider Buying and Selling at Zymeworks

In other Zymeworks news, CEO Kenneth Galbraith sold 57,291 shares of the firm’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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ecor1 Capital, Llc bought 74,360 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was purchased at an average price of $11.85 per share, for a total transaction of $881,166.00. Following the purchase, the director now owns 17,382,566 shares of the company’s stock, valued at approximately $205,983,407.10. This represents a 0.43 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,437,977 shares of company stock worth $17,906,778 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is owned by company 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.