O Shaughnessy Asset Management LLC Reduces Holdings in Zymeworks Inc. (NYSE:ZYME)

O Shaughnessy Asset Management LLC reduced its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,577 shares of the company’s stock after selling 12,271 shares during the period. O Shaughnessy Asset Management LLC owned about 0.19% of Zymeworks worth $1,941,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new stake in shares of Zymeworks in the 4th quarter worth $4,892,000. Norges Bank purchased a new stake in Zymeworks in the fourth quarter worth about $2,953,000. JPMorgan Chase & Co. increased its position in Zymeworks by 185.1% in the fourth quarter. JPMorgan Chase & Co. now owns 111,983 shares of the company’s stock worth $1,639,000 after buying an additional 72,703 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Zymeworks in the fourth quarter worth about $288,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Zymeworks during the 4th quarter valued at about $151,000. 92.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price on the stock. HC Wainwright lifted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. 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 research note on Thursday, December 19th. 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 research report on Monday, December 16th. Finally, Citigroup increased their target price on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Stock Down 6.8 %

Shares of Zymeworks stock opened at $10.95 on Friday. The firm has a market cap of $761.87 million, a price-to-earnings ratio of -7.30 and a beta of 1.18. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70. The business has a 50-day moving average price of $13.31 and a 200-day moving average price of $13.69.

Insider Buying and Selling at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 74,360 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was acquired at an average cost of $11.85 per share, with a total value of $881,166.00. Following the purchase, the director now directly owns 17,382,566 shares of the company’s stock, valued at approximately $205,983,407.10. This represents a 0.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kenneth Galbraith sold 57,291 shares of the company’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 $854,781.72. Following the sale, the chief executive officer now owns 47,543 shares in the company, valued at $709,341.56. This represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,437,977 shares of company stock worth $17,906,778 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by company insiders.

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.