Brokerages Set Zymeworks Inc. (NYSE:ZYME) PT at $21.00

Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $21.00.

Several research firms have issued reports on ZYME. HC Wainwright raised their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, March 10th. Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Finally, Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, March 7th.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 4,397 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was purchased at an average price of $11.75 per share, for a total transaction of $51,664.75. Following the completion of the acquisition, the director now directly owns 17,259,548 shares in the company, valued at $202,799,689. The trade was a 0.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased 1,350,347 shares of company stock worth $16,137,499 over the last three months. Insiders own 1.92% of the company's stock.

Hedge Funds Weigh In On Zymeworks

A number of institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its stake in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after buying an additional 1,524 shares during the last quarter. CWM LLC lifted its stake in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company's stock worth $27,000 after purchasing an additional 2,106 shares during the last quarter. AlphaQuest LLC increased its holdings in Zymeworks by 480.2% during 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 period. GAMMA Investing LLC grew its position in shares of Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after buying an additional 5,934 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Zymeworks in the 4th quarter worth $108,000. Institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

Shares of ZYME stock traded down $0.11 during trading hours on Friday, hitting $12.85. The stock had a trading volume of 415,969 shares, compared to its average volume of 610,715. Zymeworks has a twelve month low of $8.21 and a twelve month high of $17.70. The stock's 50 day moving average is $12.01 and its 200 day moving average is $13.50. The firm has a market capitalization of $894.06 million, a PE ratio of -8.57 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.