Zymeworks Inc. (NYSE:ZYME) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its holdings in Zymeworks Inc. (NYSE:ZYME) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,753 shares of the company’s stock after purchasing an additional 17,092 shares during the period. Empowered Funds LLC owned about 0.51% of Zymeworks worth $5,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its position in shares of Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Zymeworks during the third quarter worth $47,000. nVerses Capital LLC purchased a new position in Zymeworks during the third quarter valued at $79,000. China Universal Asset Management Co. Ltd. grew its position in shares of Zymeworks by 64.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock valued at $171,000 after purchasing an additional 5,359 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Zymeworks by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock worth $193,000 after purchasing an additional 2,653 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZYME has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded 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. HC Wainwright reaffirmed a “neutral” rating and issued a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Wells Fargo & Company increased their price objective on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their target price on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.17.

Zymeworks Stock Down 6.6 %

Shares of Zymeworks stock opened at $13.25 on Wednesday. The company has a 50 day moving average of $14.11 and a 200 day moving average of $13.22. The company has a market capitalization of $912.66 million, a P/E ratio of -8.83 and a beta of 1.10. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 204,098 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was acquired at an average price of $13.13 per share, for a total transaction of $2,679,806.74. Following the completion of the purchase, the director now owns 15,411,078 shares of the company’s stock, valued at approximately $202,347,454.14. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of the business’s stock in a transaction dated 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 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 quarter, insiders purchased 603,539 shares of company stock worth $8,384,708 and sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company’s stock.

Zymeworks Company 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.