Zymeworks Inc. (NYSE:ZYME) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.17.

A number of analysts have recently issued reports on ZYME shares. Leerink Partnrs raised shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Wells Fargo & Company boosted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Citigroup boosted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th.

Insider Activity

In other news, CEO Kenneth Galbraith sold 57,291 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total transaction of $854,781.72. Following the completion of the transaction, the chief executive officer now directly owns 47,543 shares of the company’s stock, valued at approximately $709,341.56. This represents a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ecor1 Capital, Llc acquired 16,692 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.38 per share, with a total value of $240,030.96. Following the completion of the purchase, the director now owns 14,720,931 shares of the company’s stock, valued at approximately $211,686,987.78. The trade was a 0.11 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. Insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Zymeworks

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Zymeworks by 0.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after buying an additional 14,604 shares during the period. Deutsche Bank AG increased its position in shares of Zymeworks by 1.2% during the fourth quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock valued at $22,645,000 after buying an additional 17,849 shares during the period. State Street Corp increased its position in shares of Zymeworks by 6.1% during the third 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. Dimensional Fund Advisors LP increased its position in shares of Zymeworks by 14.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after buying an additional 123,240 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of Zymeworks by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company’s stock valued at $11,121,000 after buying an additional 17,092 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

NYSE ZYME opened at $14.39 on Friday. Zymeworks has a 52-week low of $7.97 and a 52-week high of $17.70. The company has a market capitalization of $991.18 million, a P/E ratio of -9.59 and a beta of 1.10. The company has a fifty day moving average of $14.30 and a 200-day moving average of $13.44.

Zymeworks Company 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.