Zymeworks Inc. (NYSE:ZYME) Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC increased its stake in Zymeworks Inc. (NYSE:ZYME - Free Report) by 207.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,514 shares of the company's stock after acquiring an additional 40,172 shares during the quarter. Voya Investment Management LLC owned approximately 0.09% of Zymeworks worth $871,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after purchasing an additional 1,524 shares during the period. AlphaQuest LLC raised its position in Zymeworks by 480.2% during 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 during the period. Tower Research Capital LLC TRC lifted its stake in Zymeworks by 343.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after acquiring an additional 7,518 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Zymeworks during the 4th quarter worth about $151,000. Finally, New York State Common Retirement Fund grew its stake in Zymeworks by 42.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock valued at $196,000 after acquiring an additional 4,000 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Performance

ZYME opened at $11.33 on Thursday. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The firm has a market cap of $788.31 million, a P/E ratio of -7.55 and a beta of 1.24. The business has a 50 day moving average price of $11.91 and a 200 day moving average price of $13.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Citigroup increased their price objective on 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 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. Two equities 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc bought 320,690 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the transaction, the director now owns 16,040,851 shares of the company's stock, valued at $184,309,377.99. The trade was a 2.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 1,350,347 shares of company stock valued at $16,137,499 in the last three months. Company insiders own 1.92% of the company's stock.

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.

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