Zymeworks Inc. (NYSE:ZYME) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $21.00.

Several analysts have commented on ZYME shares. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Monday, December 16th. Citigroup increased their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Wells Fargo & Company boosted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Lifesci Capital initiated coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th.

Zymeworks Stock Down 6.8 %

Shares of NYSE:ZYME opened at $10.95 on Monday. The firm has a market cap of $761.87 million, a P/E ratio of -7.30 and a beta of 1.18. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The company’s 50-day moving average price is $13.31 and its two-hundred day moving average price is $13.71.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc purchased 21,021 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average price of $14.07 per share, with a total value of $295,765.47. Following the acquisition, the director now owns 15,206,980 shares in the company, valued at approximately $213,962,208.60. The trade was a 0.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 1,437,977 shares of company stock worth $17,906,778. Company insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Zymeworks by 0.5% in 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. Nuveen Asset Management LLC lifted its position in shares of Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after buying an additional 886 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Zymeworks by 6.9% in 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 in the last quarter. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after acquiring an additional 1,524 shares during the last quarter. Finally, FMR LLC grew its position in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.