Blackstone Inc. Has $8.34 Million Stock Position in Zymeworks Inc. (NYSE:ZYME)

Blackstone Inc. increased its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 2,171.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 569,715 shares of the company's stock after buying an additional 544,633 shares during the period. Blackstone Inc. owned 0.83% of Zymeworks worth $8,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after acquiring an additional 127,595 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. Ritholtz Wealth Management grew its position in Zymeworks by 6.1% in the 4th quarter. Ritholtz Wealth Management now owns 74,466 shares of the company's stock valued at $1,090,000 after purchasing an additional 4,297 shares during the period. SG Americas Securities LLC increased its stake in Zymeworks by 30.4% during the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company's stock valued at $392,000 after purchasing an additional 6,239 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after buying an additional 940 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ecor1 Capital, Llc bought 320,690 shares of Zymeworks stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the transaction, the director now directly owns 16,040,851 shares of the company's stock, valued at approximately $184,309,377.99. The trade was a 2.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 1,350,347 shares of company stock valued at $16,137,499 in the last ninety days. 1.92% of the stock is currently owned by insiders.

Zymeworks Trading Down 0.8 %

Shares of ZYME opened at $12.85 on Tuesday. The stock has a 50 day moving average of $11.99 and a 200 day moving average of $13.50. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70. The company has a market capitalization of $894.06 million, a price-to-earnings ratio of -8.57 and a beta of 1.24.

Analyst Ratings Changes

Several equities research analysts have recently commented on ZYME shares. HC Wainwright boosted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, March 10th. Citigroup boosted their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, 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. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

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.

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