Zymeworks Inc. (NYSE:ZYME) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Zymeworks Inc. (NYSE:ZYME) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ZYME. FMR LLC raised its position in 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 purchasing an additional 1,525 shares during the period. Stifel Financial Corp increased its position in shares of Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after purchasing an additional 1,540 shares during the last quarter. State Street Corp raised its holdings 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 buying an additional 67,401 shares during the period. Jane Street Group LLC lifted its position in Zymeworks by 27.3% in the third quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock valued at $1,008,000 after buying an additional 17,205 shares during the last quarter. Finally, Barclays PLC boosted its stake in Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after buying an additional 127,595 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 4,397 shares of the stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of $11.75 per share, with a total value of $51,664.75. Following the completion of the transaction, the director now owns 17,259,548 shares in the company, valued at $202,799,689. This represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 1,350,347 shares of company stock worth $16,137,499. Corporate insiders own 1.92% of the company’s stock.

Zymeworks Stock Up 3.5 %

Shares of ZYME stock opened at $12.16 on Wednesday. The firm has a 50 day moving average of $12.28 and a two-hundred day moving average of $13.52. The stock has a market capitalization of $846.06 million, a PE 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.

Analyst Ratings Changes

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