Bank of Montreal Can Sells 2,637 Shares of Zymeworks Inc. (NYSE:ZYME)

Bank of Montreal Can reduced its stake in Zymeworks Inc. (NYSE:ZYME) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,948 shares of the company’s stock after selling 2,637 shares during the period. Bank of Montreal Can’s holdings in Zymeworks were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its stake in Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after buying an additional 940 shares in the last quarter. FMR LLC lifted its holdings in shares of Zymeworks by 84.2% during the third 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. Stifel Financial Corp boosted 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 in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock worth $201,000 after purchasing an additional 2,216 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Performance

Shares of ZYME opened at $12.16 on Wednesday. The business’s fifty day moving average price is $12.28 and its two-hundred day moving average price is $13.52. The firm has a market capitalization of $846.06 million, a price-to-earnings ratio of -8.11 and a beta of 1.18. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 320,690 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $11.49 per share, for a total transaction of $3,684,728.10. Following the transaction, the director now directly owns 16,040,851 shares in the company, valued at $184,309,377.99. This represents a 2.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 1,350,347 shares of company stock valued at $16,137,499 over the last 90 days. 1.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ZYME. HC Wainwright boosted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital started coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Citigroup raised their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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, 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.