Wells Fargo & Company MN Trims Stake in Zymeworks Inc. (NYSE:ZYME)

Wells Fargo & Company MN lessened its position in Zymeworks Inc. (NYSE:ZYME) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,058 shares of the company’s stock after selling 13,352 shares during the quarter. Wells Fargo & Company MN owned approximately 0.24% of Zymeworks worth $2,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ZYME. AlphaQuest LLC lifted its position in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after buying an additional 2,324 shares during the period. FMR LLC increased its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Zymeworks in the 4th quarter worth about $151,000. New York State Common Retirement Fund lifted its position in Zymeworks by 42.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock valued at $196,000 after acquiring an additional 4,000 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Zymeworks by 19.2% during the fourth 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 in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZYME has been the subject of several recent research reports. Citigroup lifted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. HC Wainwright lifted their price objective on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Finally, Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Two 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Zymeworks Trading Up 0.6 %

Zymeworks stock opened at $12.52 on Friday. Zymeworks Inc. has a 12 month low of $7.97 and a 12 month high of $17.70. The stock has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $13.51. The firm has a market cap of $871.10 million, a price-to-earnings ratio of -8.35 and a beta of 1.18.

Insider Activity at Zymeworks

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

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.