Zymeworks Inc. (NYSE:ZYME) Stake Reduced by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its holdings in Zymeworks Inc. (NYSE:ZYME) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,569 shares of the company’s stock after selling 38,087 shares during the quarter. Picton Mahoney Asset Management’s holdings in Zymeworks were worth $3,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Zymeworks by 0.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after acquiring an additional 14,604 shares in the last quarter. State Street Corp raised its holdings in Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after buying an additional 67,401 shares during the period. Assenagon Asset Management S.A. raised its holdings in Zymeworks by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after buying an additional 311,107 shares during the period. Vestal Point Capital LP raised its holdings in Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after buying an additional 175,000 shares during the period. Finally, Empowered Funds LLC raised its holdings in Zymeworks by 5.1% during the 4th quarter. Empowered Funds LLC now owns 352,753 shares of the company’s stock worth $5,164,000 after buying an additional 17,092 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the acquisition, the director now owns 14,704,239 shares in the company, valued at $207,623,854.68. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Andrew Moore sold 21,200 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $316,304.00. Following the completion of the sale, the insider now owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. This trade represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 1,392,585 shares of company stock valued at $17,914,519 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by company insiders.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $12.25 on Friday. The stock has a market cap of $852.32 million, a price-to-earnings ratio of -8.17 and a beta of 1.13. The business has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $13.66. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70.

Analysts Set New Price Targets

Several research firms have issued reports on ZYME. Citigroup boosted their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a report on Monday, December 16th. Wells Fargo & Company lifted their target price on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Lifesci Capital began coverage on Zymeworks in a research note on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, HC Wainwright lifted their target price on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.