Voya Investment Management LLC Purchases 40,172 Shares of Zymeworks Inc. (NYSE:ZYME)

Voya Investment Management LLC increased its position in shares of Zymeworks Inc. (NYSE:ZYME) by 207.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,514 shares of the company’s stock after purchasing an additional 40,172 shares during the period. Voya Investment Management LLC’s holdings in Zymeworks were worth $871,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ZYME. Sterling Capital Management LLC boosted its stake in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock valued at $142,000 after acquiring an additional 7,518 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Zymeworks in the fourth quarter worth about $151,000. Finally, New York State Common Retirement Fund lifted its stake in Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock worth $196,000 after purchasing an additional 4,000 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZYME shares. Lifesci Capital started coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company. HC Wainwright lifted their price objective on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Finally, Citigroup upped their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was bought at an average price of $11.16 per share, for a total transaction of $825,315.48. Following the completion of the transaction, the director now directly owns 17,773,727 shares in the company, valued at $198,354,793.32. The trade was a 0.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders purchased 1,350,347 shares of company stock valued at $16,137,499. Insiders own 1.92% of the company’s stock.

Zymeworks Stock Down 3.5 %

Zymeworks stock opened at $11.33 on Thursday. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The stock has a 50-day simple moving average of $11.91 and a 200 day simple moving average of $13.47. The stock has a market capitalization of $788.31 million, a price-to-earnings ratio of -7.55 and a beta of 1.24.

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.