Platinum Investment Management Ltd. Sells 21,062 Shares of Zymeworks Inc. (NYSE:ZYME)

Platinum Investment Management Ltd. lessened its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 306,460 shares of the company’s stock after selling 21,062 shares during the period. Platinum Investment Management Ltd.’s holdings in Zymeworks were worth $4,487,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AlphaQuest LLC boosted its position in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC boosted its position in shares of Zymeworks by 84.2% during the 3rd 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. New York State Common Retirement Fund boosted its position in shares of Zymeworks by 42.7% during the 4th quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock valued at $196,000 after acquiring an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after acquiring an additional 940 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Zymeworks during the 3rd quarter valued at about $266,000. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZYME. 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. JPMorgan Chase & Co. upgraded 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. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, March 10th. Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Lifesci Capital began coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 11,958 shares of Zymeworks stock in a transaction dated 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 completion of the purchase, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Andrew Moore sold 21,200 shares of the business’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 directly owns 14,741 shares in the company, valued at $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. Over the last three months, insiders have acquired 1,392,585 shares of company stock valued at $17,914,519 and have sold 89,601 shares valued at $1,336,847. Insiders own 1.92% of the company’s stock.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $12.34 on Wednesday. The business’s 50 day simple moving average is $13.79 and its two-hundred day simple moving average is $13.69. The stock has a market capitalization of $858.58 million, a P/E ratio of -8.23 and a beta of 1.13. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70.

About Zymeworks

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.