Vanguard Group Inc. Has $36.50 Million Position in Zymeworks Inc. (NYSE:ZYME)

Vanguard Group Inc. trimmed its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 12.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,493,288 shares of the company's stock after selling 365,226 shares during the period. Vanguard Group Inc. owned about 3.62% of Zymeworks worth $36,502,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position 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 during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Zymeworks in the 4th quarter valued at about $3,368,000. Barclays PLC raised its position in shares of Zymeworks by 476.3% in the 3rd 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. State Street Corp boosted its stake in Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company's stock worth $14,706,000 after acquiring an additional 67,401 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Zymeworks during the fourth quarter valued at approximately $888,000. Institutional investors own 92.89% of the company's stock.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average cost of $11.16 per share, for a total transaction of $825,315.48. Following the completion of the acquisition, the director now owns 17,773,727 shares in the company, 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 can be accessed through the SEC website. Over the last quarter, insiders have purchased 1,350,347 shares of company stock valued at $16,137,499. 1.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ZYME has been the subject of several research analyst reports. Lifesci Capital initiated coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price target for the company. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. Citigroup raised their price target on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Finally, Wells Fargo & Company boosted their price objective on Zymeworks from $12.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, December 19th. 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 stock. Based on data from MarketBeat.com, Zymeworks currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Stock Up 2.5 %

Shares of ZYME stock traded up $0.28 during trading on Friday, reaching $11.53. The company's stock had a trading volume of 383,335 shares, compared to its average volume of 620,569. The business has a fifty day moving average price of $12.38 and a 200-day moving average price of $13.52. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The company has a market cap of $802.22 million, a price-to-earnings ratio of -7.69 and a beta of 1.18.

Zymeworks 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.