Invesco Ltd. Reduces Position in Zymeworks Inc. (NYSE:ZYME)

Invesco Ltd. reduced its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,382 shares of the company's stock after selling 93,657 shares during the period. Invesco Ltd. owned approximately 0.10% of Zymeworks worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its stake in Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company's stock worth $1,937,000 after purchasing an additional 127,595 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Zymeworks by 93.9% during 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 in the last quarter. Rhumbline Advisers boosted its stake in Zymeworks by 18.1% during the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock worth $1,521,000 after buying an additional 15,920 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Zymeworks in the 4th quarter valued at $888,000. Finally, Ritholtz Wealth Management increased its stake in shares of Zymeworks by 6.1% in the 4th quarter. Ritholtz Wealth Management now owns 74,466 shares of the company's stock worth $1,090,000 after acquiring an additional 4,297 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Trading Down 1.0 %

ZYME stock opened at $12.88 on Friday. The business's fifty day moving average price is $12.02 and its 200 day moving average price is $13.51. 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 $896.15 million, a PE ratio of -8.59 and a beta of 1.18.

Analysts Set New Price Targets

ZYME has been the subject of a number of analyst reports. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective for the company. HC Wainwright lifted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, March 10th. Finally, Citigroup increased their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.00.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 22,689 shares of Zymeworks stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $13.08 per share, for a total transaction of $296,772.12. Following the completion of the purchase, the director now owns 17,157,802 shares in the company, valued at approximately $224,424,050.16. The trade was a 0.13 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 1,350,347 shares of company stock valued at $16,137,499 in the last three months. 1.92% of the stock is owned by corporate 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.

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