Schroder Investment Management Group Acquires New Shares in Zymeworks Inc. (NYSE:ZYME)

Schroder Investment Management Group bought a new position in Zymeworks Inc. (NYSE:ZYME) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 337,161 shares of the company’s stock, valued at approximately $4,892,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after purchasing an additional 650 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after buying an additional 940 shares during the period. FMR LLC grew its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares in the last quarter. Stifel Financial Corp increased its stake in Zymeworks by 2.1% in the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after acquiring an additional 1,540 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock valued at $201,000 after acquiring an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Zymeworks Stock Down 6.8 %

Shares of NYSE:ZYME opened at $10.95 on Friday. The company’s fifty day moving average is $13.31 and its 200 day moving average is $13.70. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a market cap of $761.87 million, a PE ratio of -7.30 and a beta of 1.18.

Insider Transactions at Zymeworks

In other news, insider Paul Andrew Moore sold 21,200 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $316,304.00. Following the transaction, the insider now owns 14,741 shares in the company, valued at approximately $219,935.72. This trade represents a 58.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth Galbraith sold 57,291 shares of the company’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 sale, the chief executive officer now owns 47,543 shares of the company’s stock, valued at $709,341.56. This represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,437,977 shares of company stock worth $17,906,778 and have sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company’s stock.

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.