Legal & General Group Plc Acquires 2,590 Shares of Zymeworks Inc. (NYSE:ZYME)

Legal & General Group Plc increased its holdings in Zymeworks Inc. (NYSE:ZYME) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 47,082 shares of the company’s stock after buying an additional 2,590 shares during the quarter. Legal & General Group Plc’s holdings in Zymeworks were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ZYME. Federated Hermes Inc. grew its holdings in shares of Zymeworks by 1.9% in the fourth quarter. Federated Hermes Inc. now owns 181,626 shares of the company’s stock worth $2,659,000 after acquiring an additional 3,367 shares during the period. Trexquant Investment LP purchased a new position in Zymeworks in the fourth quarter worth about $1,493,000. Schroder Investment Management Group bought a new stake in shares of Zymeworks during the 4th quarter valued at about $4,892,000. Norges Bank purchased a new stake in shares of Zymeworks during the 4th quarter valued at about $2,953,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Zymeworks by 185.1% in the 4th quarter. JPMorgan Chase & Co. now owns 111,983 shares of the company’s stock worth $1,639,000 after purchasing an additional 72,703 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research 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 note on Monday, March 10th. Finally, Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price on the stock. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $12.88 on Tuesday. The company has a market cap of $896.15 million, a P/E ratio of -8.59 and a beta of 1.18. Zymeworks Inc. has a 52-week low of $8.21 and a 52-week high of $17.70. The firm’s fifty day moving average is $12.09 and its two-hundred day moving average is $13.52.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 468,356 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $12.48 per share, with a total value of $5,845,082.88. Following the transaction, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This trade represents a 2.87 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 1,350,347 shares of company stock worth $16,137,499 over the last 90 days. 1.92% of the stock is owned by insiders.

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.