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

Invesco Ltd. lowered its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 57.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ZYME. AlphaQuest LLC lifted its holdings in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Zymeworks during the fourth quarter valued at $151,000. New York State Common Retirement Fund increased its holdings in shares of Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock worth $196,000 after buying an additional 4,000 shares in the last quarter. Teacher Retirement System of Texas raised its position in Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock valued at $201,000 after purchasing an additional 2,216 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Zymeworks by 6.9% during the 4th 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 in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 468,356 shares of Zymeworks stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the acquisition, the director now directly owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. This trade represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 1,350,347 shares of company stock valued at $16,137,499 over the last three months. Insiders own 1.92% of the company's stock.

Zymeworks Stock Performance

ZYME traded down $0.41 on Wednesday, reaching $11.33. The company had a trading volume of 462,652 shares, compared to its average volume of 607,160. The business has a 50 day simple moving average of $11.91 and a 200 day simple moving average of $13.47. The company has a market cap of $788.31 million, a price-to-earnings ratio of -7.55 and a beta of 1.24. Zymeworks Inc. has a 52-week low of $8.21 and a 52-week high of $17.70.

Analyst Ratings Changes

A number of research firms have commented on ZYME. Citigroup lifted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. Finally, Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Zymeworks currently has a consensus rating of "Moderate Buy" and an average target price 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.