Acuta Capital Partners LLC Acquires Shares of 67,240 Zymeworks Inc. (NYSE:ZYME)

Acuta Capital Partners LLC purchased a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 67,240 shares of the company's stock, valued at approximately $984,000. Zymeworks comprises 1.0% of Acuta Capital Partners LLC's portfolio, making the stock its 26th biggest position. Acuta Capital Partners LLC owned approximately 0.10% of Zymeworks as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in 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. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after purchasing an additional 1,524 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Zymeworks by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after purchasing an additional 2,053 shares during the period. Teacher Retirement System of Texas grew its holdings in Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after buying an additional 2,216 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 73,953 shares of Zymeworks stock in a transaction on Wednesday, April 16th. The stock was purchased at an average cost of $11.16 per share, for a total transaction of $825,315.48. Following the completion of the purchase, the director now directly owns 17,773,727 shares of the company's stock, valued at $198,354,793.32. The trade was a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 1,350,347 shares of company stock worth $16,137,499 in the last ninety days. Corporate insiders own 1.92% of the company's stock.

Zymeworks Price Performance

NYSE:ZYME opened at $12.88 on Friday. The stock has a market cap of $896.15 million, a PE ratio of -8.59 and a beta of 1.18. The stock's 50-day moving average is $12.02 and its two-hundred day moving average is $13.51. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70.

Analyst Upgrades and Downgrades

ZYME has been the topic of several recent analyst reports. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Citigroup upped their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Finally, Lifesci Capital initiated coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

About Zymeworks

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.

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