Zymeworks Inc. (NYSE:ZYME) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 185.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,983 shares of the company's stock after purchasing an additional 72,703 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Zymeworks worth $1,639,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its holdings in shares of Zymeworks by 480.2% in the fourth 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 Zymeworks in the 4th quarter worth about $151,000. New York State Common Retirement Fund increased its position 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 acquiring an additional 4,000 shares during the period. Teacher Retirement System of Texas increased its position in shares of Zymeworks by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after acquiring an additional 2,216 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after acquiring an additional 940 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ZYME shares. HC Wainwright raised their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Citigroup lifted their price objective on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Finally, Lifesci Capital assumed coverage on shares of Zymeworks in a report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zymeworks has an average rating of "Moderate Buy" and an average price target of $21.00.

Zymeworks Stock Performance

NYSE:ZYME traded down $0.04 during midday trading on Thursday, reaching $12.98. 55,504 shares of the stock traded hands, compared to its average volume of 595,138. The business has a 50-day moving average of $12.04 and a two-hundred day moving average of $13.51. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The stock has a market capitalization of $902.76 million, a PE ratio of -8.66 and a beta of 1.18.

Insider Buying and Selling at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc bought 468,356 shares of Zymeworks stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $12.48 per share, with a total value of $5,845,082.88. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is currently owned by 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.