Raymond James Financial Inc. Takes $888,000 Position in Zymeworks Inc. (NYSE:ZYME)

Raymond James Financial Inc. bought a new position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 60,642 shares of the company's stock, valued at approximately $888,000. Raymond James Financial Inc. owned approximately 0.09% of Zymeworks at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ZYME. Renaissance Technologies LLC grew its stake in Zymeworks by 54.8% during the 4th quarter. Renaissance Technologies LLC now owns 285,700 shares of the company's stock worth $4,183,000 after purchasing an additional 101,100 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Zymeworks by 5.8% in the 4th quarter. Legal & General Group Plc now owns 47,082 shares of the company's stock valued at $689,000 after buying an additional 2,590 shares during the period. Federated Hermes Inc. grew its position in shares of Zymeworks by 1.9% during the fourth quarter. Federated Hermes Inc. now owns 181,626 shares of the company's stock worth $2,659,000 after buying an additional 3,367 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Zymeworks during the fourth quarter worth approximately $1,493,000. Finally, Schroder Investment Management Group acquired a new stake in Zymeworks in the fourth quarter valued at approximately $4,892,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup increased their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, HC Wainwright boosted 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. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc bought 73,953 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were purchased at an average cost of $11.16 per share, with a total value of $825,315.48. Following the completion of the transaction, the director now directly owns 17,773,727 shares of the company's stock, valued at approximately $198,354,793.32. This represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 1,350,347 shares of company stock worth $16,137,499. Corporate insiders own 1.92% of the company's stock.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $12.85 on Tuesday. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The company has a market capitalization of $894.06 million, a PE ratio of -8.57 and a beta of 1.24. The business has a 50-day moving average of $11.99 and a 200-day moving average of $13.50.

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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