Zymeworks Inc. (NYSE:ZYME) Given Average Recommendation of “Moderate Buy” by Brokerages

Zymeworks Inc. (NYSE:ZYME) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.17.

ZYME has been the subject of several research analyst reports. 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. Stifel Nicolaus raised their price target on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup raised their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, HC Wainwright restated a “neutral” rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd.

Zymeworks Stock Performance

NYSE:ZYME opened at $14.39 on Friday. The firm has a market cap of $991.18 million, a price-to-earnings ratio of -9.59 and a beta of 1.10. Zymeworks 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 $14.30 and a two-hundred day moving average price of $13.44.

Insider Activity at Zymeworks

In other news, EVP Jeffrey T. L. Smith sold 11,110 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $165,761.20. Following the completion of the transaction, the executive vice president now directly owns 8,890 shares in the company, valued at $132,638.80. The trade was a 55.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Andrew Moore sold 21,200 shares of the business’s stock in a transaction 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 transaction, the insider now owns 14,741 shares of the company’s stock, valued at $219,935.72. This trade represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 603,539 shares of company stock worth $8,384,708 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZYME. Blackstone Inc. grew its position in shares of Zymeworks by 2,171.4% during the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company’s stock valued at $8,341,000 after purchasing an additional 544,633 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Zymeworks during the 4th quarter valued at $6,629,000. Schroder Investment Management Group purchased a new position in shares of Zymeworks during the 4th quarter valued at $4,892,000. Assenagon Asset Management S.A. purchased a new position in shares of Zymeworks during the 3rd quarter valued at $4,156,000. Finally, Point72 Asset Management L.P. grew its position in shares of Zymeworks by 565.8% during the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after purchasing an additional 280,544 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

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.