Northwest & Ethical Investments L.P. Trims Stake in Zymeworks Inc. (NYSE:ZYME)

Northwest & Ethical Investments L.P. lessened its position in shares of Zymeworks Inc. (NYSE:ZYME) by 14.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,471 shares of the company’s stock after selling 900 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Zymeworks were worth $80,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its position in shares of Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC boosted its stake in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares during the period. New York State Common Retirement Fund grew its position in Zymeworks by 42.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock worth $196,000 after purchasing an additional 4,000 shares during the last quarter. 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 during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings 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 valued at $214,000 after buying an additional 940 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Activity

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

Zymeworks Stock Down 1.6 %

Shares of NYSE ZYME opened at $12.72 on Friday. The stock has a market capitalization of $885.02 million, a price-to-earnings ratio of -8.48 and a beta of 1.13. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50-day moving average price of $13.72 and a 200 day moving average price of $13.70.

Wall Street Analysts Forecast Growth

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

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.