Russell Investments Group Ltd. Sells 4,826 Shares of Zymeworks Inc. (NYSE:ZYME)

Russell Investments Group Ltd. decreased its position in shares of Zymeworks Inc. (NYSE:ZYME) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,945 shares of the company’s stock after selling 4,826 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Zymeworks worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZYME. AlphaQuest LLC grew its position in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after purchasing an additional 2,324 shares during the period. FMR LLC lifted its stake in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Zymeworks during the fourth quarter valued at about $151,000. New York State Common Retirement Fund increased its position in shares of Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock worth $196,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Teacher Retirement System of Texas raised 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 acquiring an additional 2,216 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc acquired 468,356 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. This trade represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have acquired 1,350,347 shares of company stock valued at $16,137,499. Insiders own 1.92% of the company’s stock.

Zymeworks Stock Up 3.5 %

Shares of NYSE ZYME opened at $12.16 on Wednesday. The company has a market capitalization of $846.06 million, a PE ratio of -8.11 and a beta of 1.18. The stock’s 50 day moving average price is $12.28 and its 200-day moving average price is $13.52. Zymeworks Inc. has a twelve month low of $7.97 and a twelve month high of $17.70.

Analysts Set New Price Targets

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