Tower Research Capital LLC TRC Grows Holdings in Zymeworks Inc. (NYSE:ZYME)

Tower Research Capital LLC TRC increased its position in shares of Zymeworks Inc. (NYSE:ZYME) by 488.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,275 shares of the company’s stock after buying an additional 15,999 shares during the period. Tower Research Capital LLC TRC’s holdings in Zymeworks were worth $174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Zymeworks during the 1st quarter worth $42,000. Envestnet Asset Management Inc. purchased a new stake in Zymeworks during the 2nd quarter worth $62,000. First Republic Investment Management Inc. purchased a new stake in Zymeworks during the 1st quarter worth $66,000. Lazard Asset Management LLC purchased a new stake in Zymeworks during the 1st quarter worth $66,000. Finally, Virtu Financial LLC bought a new stake in shares of Zymeworks in the 2nd quarter worth about $70,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Zymeworks news, major shareholder Ecor1 Capital, Llc acquired 3,350,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average price of $8.12 per share, for a total transaction of $27,202,000.00. Following the completion of the purchase, the insider now directly owns 13,437,473 shares in the company, valued at $109,112,280.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.63% of the stock is owned by company insiders.

Zymeworks Stock Up 0.5 %

ZYME opened at $7.53 on Wednesday. The firm has a market cap of $510.74 million, a price-to-earnings ratio of 2.68 and a beta of 0.95. Zymeworks Inc. has a fifty-two week low of $4.11 and a fifty-two week high of $10.80. The company’s 50-day moving average price is $7.83 and its 200 day moving average price is $8.46.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZYME. Stifel Nicolaus upped their target price on shares of Zymeworks from $18.00 to $19.00 in a research note on Tuesday, May 9th. Citigroup upped their target price on shares of Zymeworks from $17.00 to $18.00 in a research note on Thursday, May 18th. Finally, HC Wainwright restated a “neutral” rating and issued a $8.00 target price on shares of Zymeworks in a research note on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Zymeworks presently has an average rating of “Moderate Buy” and an average price target of $12.44.

About Zymeworks

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 for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, colorectal, and endometrial cancers; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.