Zymeworks Inc. (NYSE:ZYME) Receives $21.00 Average PT from Analysts

Zymeworks Inc. (NYSE:ZYME - Get Free Report) has earned an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $21.00.

A number of research analysts have commented on ZYME shares. Citigroup upped their price target on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Lifesci Capital started coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, HC Wainwright lifted their price objective 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.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 73,953 shares of the stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average price 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 in the company, valued at approximately $198,354,793.32. This trade represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 1,350,347 shares of company stock worth $16,137,499. Insiders own 1.92% of the company's stock.

Institutional Investors Weigh In On Zymeworks

Several hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Zymeworks by 476.3% during the 3rd quarter. Barclays PLC now owns 154,384 shares of the company's stock worth $1,937,000 after buying an additional 127,595 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after acquiring an additional 311,107 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Zymeworks by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after purchasing an additional 2,053 shares during the last quarter. Rhumbline Advisers grew its stake in Zymeworks by 18.1% during the 4th quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after purchasing an additional 15,920 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Zymeworks during the 4th quarter worth approximately $888,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Stock Down 3.5 %

Shares of Zymeworks stock traded down $0.41 on Friday, hitting $11.33. 462,652 shares of the company were exchanged, compared to its average volume of 607,160. Zymeworks has a 1-year low of $8.21 and a 1-year high of $17.70. The company has a 50-day moving average price of $11.91 and a 200 day moving average price of $13.47. The stock has a market capitalization of $788.31 million, a price-to-earnings ratio of -7.55 and a beta of 1.24.

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.