Hillsdale Investment Management Inc. Purchases Shares of 230,025 Zymeworks Inc. (NYSE:ZYME)

Hillsdale Investment Management Inc. acquired a new position in Zymeworks Inc. (NYSE:ZYME) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 230,025 shares of the company’s stock, valued at approximately $3,368,000.

A number of other hedge funds have also recently made changes to their positions in ZYME. American Century Companies Inc. acquired a new position in Zymeworks during the fourth quarter worth $585,000. Teacher Retirement System of Texas lifted its stake in Zymeworks by 19.2% during the 4th 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. Tejara Capital Ltd purchased a new position in Zymeworks during the 4th quarter valued at about $564,000. Commonwealth Equity Services LLC grew its position in Zymeworks by 16.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 30,960 shares of the company’s stock valued at $453,000 after acquiring an additional 4,294 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective 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 upped their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital assumed coverage on Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company. Wells Fargo & Company upped their price target on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Monday, December 16th. Two equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 11,958 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96. Following the transaction, the director now directly owns 14,704,239 shares of the company’s stock, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth Galbraith sold 57,291 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 47,543 shares of the company’s stock, valued at approximately $709,341.56. This trade represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,507,168 shares of company stock worth $19,339,774 and have sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by insiders.

Zymeworks Stock Performance

ZYME opened at $12.72 on Friday. The business’s 50-day simple moving average is $13.72 and its 200-day simple moving average is $13.70. The company has a market cap of $885.02 million, a P/E ratio of -8.48 and a beta of 1.13. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70.

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.