Renaissance Technologies LLC lifted its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 54.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,700 shares of the company's stock after purchasing an additional 101,100 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Zymeworks worth $4,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in Zymeworks by 6.9% in 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 during the last quarter. FMR LLC increased its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after purchasing an additional 1,525 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company's stock valued at $924,000 after purchasing an additional 1,540 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Zymeworks by 19.2% during the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after buying an additional 2,216 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after buying an additional 2,324 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective for the company. Citigroup upped their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, HC Wainwright boosted their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.
Check Out Our Latest Research Report on ZYME
Insider Transactions at Zymeworks
In other Zymeworks news, Director Ecor1 Capital, Llc acquired 320,690 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the purchase, the director now directly owns 16,040,851 shares of the company's stock, valued at $184,309,377.99. This trade represents a 2.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 1,350,347 shares of company stock worth $16,137,499. Company insiders own 1.92% of the company's stock.
Zymeworks Price Performance
Shares of Zymeworks stock traded up $0.05 during midday trading on Friday, reaching $12.57. The company had a trading volume of 370,378 shares, compared to its average volume of 616,997. The stock has a fifty day moving average price of $12.13 and a 200 day moving average price of $13.51. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm has a market cap of $874.58 million, a PE ratio of -8.38 and a beta of 1.18.
About Zymeworks
(
Free Report)
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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