Picton Mahoney Asset Management Reduces Holdings in Zymeworks Inc. (NYSE:ZYME)

Picton Mahoney Asset Management lowered its position in shares of Zymeworks Inc. (NYSE:ZYME) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,569 shares of the company’s stock after selling 38,087 shares during the period. Picton Mahoney Asset Management owned approximately 0.30% of Zymeworks worth $3,024,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC raised its stake in shares of Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after purchasing an additional 2,324 shares during the period. FMR LLC increased its stake in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. New York State Common Retirement Fund increased its stake 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 worth $196,000 after buying an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock worth $214,000 after buying an additional 940 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Zymeworks in the third quarter worth $266,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

Shares of ZYME opened at $12.25 on Friday. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70. The company has a market cap of $852.32 million, a price-to-earnings ratio of -8.17 and a beta of 1.13. The firm has a fifty day moving average of $13.86 and a 200-day moving average of $13.66.

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 11,958 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the completion of the purchase, the director now directly owns 14,704,239 shares in the company, valued at $207,623,854.68. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $165,761.20. Following the sale, the executive vice president now owns 8,890 shares in the company, valued at approximately $132,638.80. This represents a 55.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,392,585 shares of company stock valued at $17,914,519 and sold 89,601 shares valued at $1,336,847. Corporate insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZYME. Lifesci Capital began coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. HC Wainwright lifted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.