Zymeworks Inc. (NYSE:ZYME) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 343.9% in the fourth quarter, Holdings Channel reports. The firm owned 9,704 shares of the company’s stock after buying an additional 7,518 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Zymeworks were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of 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 during the period. AlphaQuest LLC lifted its position in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Zymeworks in the 4th quarter valued at approximately $151,000. New York State Common Retirement Fund increased its holdings in shares of Zymeworks by 42.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock valued at $196,000 after purchasing an additional 4,000 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Zymeworks by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock worth $201,000 after purchasing an additional 2,216 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright lifted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Citigroup increased their price target 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. The trade was a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 1,350,347 shares of company stock worth $16,137,499 over the last ninety days. 1.92% of the stock is currently owned by insiders.

Zymeworks Trading Down 3.5 %

Shares of NYSE ZYME opened at $11.33 on Thursday. The company’s 50-day moving average price is $11.91 and its 200 day moving average price is $13.47. Zymeworks Inc. has a 52 week low of $8.21 and a 52 week high of $17.70. The stock has a market cap 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.