Zymeworks Inc. (NYSE:ZYME) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,090 shares of the company’s stock after selling 11,588 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Zymeworks worth $792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its stake in Zymeworks by 480.2% during 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 in the last quarter. KLP Kapitalforvaltning AS bought a new position in Zymeworks during the fourth quarter valued at about $151,000. New York State Common Retirement Fund grew its holdings in 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 during the period. Teacher Retirement System of Texas raised its position in Zymeworks by 19.2% in 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. Finally, China Universal Asset Management Co. Ltd. lifted its holdings 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 acquiring an additional 940 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc bought 4,397 shares of the business’s stock in a transaction on Monday, March 31st. The stock was bought at an average price of $11.75 per share, for a total transaction of $51,664.75. Following the transaction, the director now directly owns 17,259,548 shares in the company, valued at $202,799,689. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders acquired 1,350,347 shares of company stock valued at $16,137,499. Corporate insiders own 1.92% of the company’s stock.

Zymeworks Stock Up 0.6 %

ZYME opened at $12.96 on Friday. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The firm has a market capitalization of $901.72 million, a P/E ratio of -8.64 and a beta of 1.18. The stock has a fifty day moving average of $12.01 and a 200-day moving average of $13.50.

Wall Street Analysts Forecast Growth

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