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

Zymeworks Inc. (NYSE:ZYME) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $21.00.

Several equities research analysts have recently weighed in on the company. HC Wainwright upped 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. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Monday, December 16th. Wells Fargo & Company increased 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. Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Citigroup raised their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc purchased 19,748 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $13.87 per share, for a total transaction of $273,904.76. Following the completion of the purchase, the director now owns 15,720,161 shares of the company’s stock, valued at approximately $218,038,633.07. This trade represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 1,335,171 shares of company stock worth $16,132,884. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares during the last quarter. State Street Corp boosted its holdings in Zymeworks by 6.1% in the third quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after purchasing an additional 67,401 shares during the period. Assenagon Asset Management S.A. increased its stake in Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock valued at $9,403,000 after purchasing an additional 311,107 shares during the last quarter. FMR LLC raised its holdings in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of 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 buying an additional 1,540 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Zymeworks Trading Up 12.6 %

NYSE:ZYME opened at $10.63 on Monday. Zymeworks has a twelve month low of $7.97 and a twelve month high of $17.70. The firm has a market capitalization of $739.60 million, a price-to-earnings ratio of -7.09 and a beta of 1.18. The firm’s fifty day simple moving average is $12.68 and its 200 day simple moving average is $13.57.

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.