Bank of Montreal Can Has $380,000 Holdings in Zymeworks Inc. (NYSE:ZYME)

Bank of Montreal Can decreased its stake in Zymeworks Inc. (NYSE:ZYME) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,948 shares of the company’s stock after selling 2,637 shares during the quarter. Bank of Montreal Can’s holdings in Zymeworks were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ZYME. China Universal Asset Management Co. Ltd. increased its stake in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after acquiring an additional 940 shares during the last quarter. FMR LLC grew its holdings 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 during the period. Stifel Financial Corp grew its holdings in 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 purchasing an additional 1,540 shares during the period. Teacher Retirement System of Texas increased its stake in Zymeworks by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock valued at $201,000 after purchasing an additional 2,216 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZYME. Citigroup boosted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Finally, Lifesci Capital began coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target on the stock. 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 company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 468,356 shares of the company’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 transaction, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 1,350,347 shares of company stock valued at $16,137,499 over the last three months. Company insiders own 1.92% of the company’s stock.

Zymeworks Trading Up 3.5 %

Shares of NYSE ZYME opened at $12.16 on Wednesday. The company has a fifty day moving average price of $12.28 and a 200 day moving average price of $13.52. The firm has a market cap of $846.06 million, a PE ratio of -8.11 and a beta of 1.18. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

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.