Hillsdale Investment Management Inc. Purchases Shares of 230,025 Zymeworks Inc. (NYSE:ZYME)

Hillsdale Investment Management Inc. acquired a new stake in shares of Zymeworks Inc. (NYSE:ZYME) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 230,025 shares of the company’s stock, valued at approximately $3,368,000. Hillsdale Investment Management Inc. owned about 0.33% of Zymeworks as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after buying an additional 311,107 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after acquiring an additional 175,000 shares in the last quarter. Barclays PLC grew its position in shares of Zymeworks by 476.3% during the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares during the period. State Street Corp increased its stake in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after purchasing an additional 67,401 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Zymeworks in the 4th quarter valued at about $888,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ZYME shares. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. JPMorgan Chase & Co. raised shares of 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. Wells Fargo & Company lifted their target price on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Activity

In other news, insider Paul Andrew Moore sold 21,200 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 transaction of $316,304.00. Following the transaction, the insider now owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. The trade was a 58.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kenneth Galbraith sold 57,291 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the sale, the chief executive officer now owns 47,543 shares of the company’s stock, valued at approximately $709,341.56. The trade was a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,507,168 shares of company stock worth $19,339,774 and sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company’s stock.

Zymeworks Trading Down 1.6 %

Shares of NYSE ZYME opened at $12.72 on Friday. The company has a 50-day moving average of $13.72 and a 200 day moving average of $13.70. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70. The stock has a market cap of $885.02 million, a PE ratio of -8.48 and a beta of 1.13.

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.