Compagnie Lombard Odier SCmA Trims Stock Position in Zymeworks Inc. (NYSE:ZYME)

Compagnie Lombard Odier SCmA lessened its holdings in Zymeworks Inc. (NYSE:ZYME) by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company’s stock after selling 3,000 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Zymeworks were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ZYME. FMR LLC lifted its holdings in shares of Zymeworks by 84.2% in 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 in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Zymeworks during the third quarter valued at approximately $47,000. nVerses Capital LLC purchased a new position in shares of Zymeworks during the third quarter valued at approximately $79,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Zymeworks by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,665 shares of the company’s stock valued at $171,000 after buying an additional 5,359 shares during the period. Finally, The Manufacturers Life Insurance Company lifted 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 valued at $193,000 after buying an additional 2,653 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insider Transactions at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 204,098 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $13.13 per share, with a total value of $2,679,806.74. Following the completion of the transaction, the director now directly owns 15,411,078 shares of the company’s stock, valued at approximately $202,347,454.14. The trade was a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $165,761.20. Following the completion of the sale, the executive vice president now directly owns 8,890 shares of the company’s stock, valued at $132,638.80. The trade was a 55.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. Company insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ZYME shares. Stifel Nicolaus upped their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup upped their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, 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 report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Zymeworks Stock Performance

Shares of ZYME stock opened at $15.01 on Friday. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The company has a 50 day moving average price of $14.13 and a 200 day moving average price of $13.27. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -10.01 and a beta of 1.10.

About Zymeworks

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.