Zymeworks (NYSE:ZYME) Coverage Initiated at Lifesci Capital

Investment analysts at Lifesci Capital started coverage on shares of Zymeworks (NYSE:ZYME) in a report released on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Lifesci Capital’s target price points to a potential upside of 170.27% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright upped their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday. Citigroup increased their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Finally, Wells Fargo & Company boosted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zymeworks has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Zymeworks Stock Down 7.5 %

Shares of Zymeworks stock opened at $11.10 on Tuesday. The business has a fifty day simple moving average of $14.14 and a 200-day simple moving average of $13.66. Zymeworks has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm has a market cap of $772.30 million, a price-to-earnings ratio of -7.40 and a beta of 1.13.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 16,692 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $14.38 per share, for a total transaction of $240,030.96. Following the completion of the acquisition, the director now owns 14,720,931 shares in the company, valued at $211,686,987.78. This trade represents a 0.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Andrew Moore sold 21,200 shares of the business’s 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 transaction, the insider now directly owns 14,741 shares in the company, valued at $219,935.72. The trade was a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by insiders.

Institutional Trading of Zymeworks

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in Zymeworks by 6.1% in the third 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. Barclays PLC lifted its holdings 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 buying an additional 127,595 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock valued at $7,718,000 after buying an additional 175,000 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Zymeworks by 93.9% in 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 during the last quarter. Finally, FMR LLC raised its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 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.