Zymeworks Inc. (NYSE:ZYME) Receives $21.00 Average PT from Brokerages

Shares of Zymeworks Inc. (NYSE:ZYME) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.00.

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

Zymeworks Price Performance

Shares of ZYME opened at $12.79 on Thursday. Zymeworks has a one year low of $7.97 and a one year high of $17.70. The company has a market cap of $889.89 million, a P/E ratio of -8.53 and a beta of 1.13. The firm has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $13.68.

Insider Transactions at Zymeworks

In other Zymeworks news, EVP Jeffrey T. L. Smith sold 11,110 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $165,761.20. Following the completion of the sale, the executive vice president now directly owns 8,890 shares of the company’s stock, valued at approximately $132,638.80. This represents a 55.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ecor1 Capital, Llc bought 16,692 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $14.38 per share, for a total transaction of $240,030.96. Following the transaction, the director now owns 14,720,931 shares in the company, valued at approximately $211,686,987.78. This represents a 0.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,507,168 shares of company stock valued at $19,339,774 and sold 89,601 shares valued at $1,336,847. Company insiders own 1.92% of the company’s stock.

Institutional Trading of Zymeworks

A number of large investors have recently added to or reduced their stakes in ZYME. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Zymeworks by 0.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after acquiring an additional 14,604 shares during the period. Deutsche Bank AG grew its holdings in Zymeworks by 1.2% during the fourth quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock valued at $22,645,000 after purchasing an additional 17,849 shares during the period. State Street Corp increased its position 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 buying an additional 67,401 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Zymeworks by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after buying an additional 123,240 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of Zymeworks by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company’s stock valued at $11,121,000 after buying an additional 17,092 shares during the last quarter. Hedge funds and other institutional investors own 92.89% 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.