Geode Capital Management LLC Reduces Stock Position in Zymeworks Inc. (NYSE:ZYME)

Geode Capital Management LLC trimmed its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 689,884 shares of the company's stock after selling 24,031 shares during the period. Geode Capital Management LLC owned 1.00% of Zymeworks worth $10,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ZYME. Barclays PLC lifted its holdings in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after purchasing an additional 127,595 shares during the last quarter. State Street Corp increased its position in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company's stock valued at $14,706,000 after acquiring an additional 67,401 shares during the period. Assenagon Asset Management S.A. increased its position in Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after acquiring an additional 311,107 shares during the period. FMR LLC increased its position in 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 acquiring an additional 1,525 shares during the period. Finally, Stifel Financial Corp increased its position in 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 acquiring an additional 1,540 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ZYME. Lifesci Capital began coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price target on the stock. HC Wainwright boosted their price target on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, March 10th. Finally, Citigroup boosted their price target on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Zymeworks presently has an average rating of "Moderate Buy" and an average target price of $21.00.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 73,953 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was purchased at an average price of $11.16 per share, for a total transaction of $825,315.48. Following the transaction, the director now owns 17,773,727 shares in the company, valued at $198,354,793.32. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 1,350,347 shares of company stock valued at $16,137,499 in the last 90 days. 1.92% of the stock is currently owned by insiders.

Zymeworks Trading Up 2.5 %

Shares of NYSE:ZYME traded up $0.31 during midday trading on Monday, hitting $12.88. 494,788 shares of the stock were exchanged, compared to its average volume of 616,729. The stock has a market cap of $896.15 million, a P/E ratio of -8.59 and a beta of 1.18. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The company has a 50 day moving average price of $12.09 and a 200-day moving average price of $13.52.

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.