BVF Inc. IL Has $63.08 Million Stock Position in Zymeworks Inc. (NYSE:ZYME)

BVF Inc. IL cut its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,308,935 shares of the company's stock after selling 299,000 shares during the quarter. Zymeworks accounts for 2.1% of BVF Inc. IL's portfolio, making the stock its 10th largest position. BVF Inc. IL owned 6.26% of Zymeworks worth $63,083,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC grew 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 acquiring an additional 2,324 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Zymeworks in the 4th quarter worth about $108,000. Tower Research Capital LLC TRC raised its stake in shares of Zymeworks by 343.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock valued at $142,000 after purchasing an additional 7,518 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Zymeworks during the fourth quarter worth about $151,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Down 3.5 %

NYSE ZYME traded down $0.41 during trading hours on Wednesday, hitting $11.33. The company had a trading volume of 462,652 shares, compared to its average volume of 607,160. The firm has a market cap of $788.31 million, a P/E ratio of -7.55 and a beta of 1.24. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The business has a fifty day simple moving average of $11.91 and a 200-day simple moving average of $13.47.

Insider Buying and Selling

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 468,356 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the acquisition, the director now directly owns 16,802,141 shares of the company's stock, valued at $209,690,719.68. This represents a 2.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 1,350,347 shares of company stock valued at $16,137,499 in the last quarter. Company insiders own 1.92% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ZYME. Citigroup boosted their price objective on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. HC Wainwright boosted their price target on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Finally, Lifesci Capital started 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zymeworks currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

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.