AlphaQuest LLC Acquires 2,324 Shares of Zymeworks Inc. (NYSE:ZYME)

AlphaQuest LLC raised its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 480.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,808 shares of the company’s stock after acquiring an additional 2,324 shares during the period. AlphaQuest LLC’s holdings in Zymeworks were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC grew its holdings in shares of Zymeworks by 84.2% in 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 last quarter. New York State Common Retirement Fund grew its holdings in shares of Zymeworks by 42.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock worth $196,000 after purchasing an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock worth $214,000 after purchasing an additional 940 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Zymeworks in the third quarter worth approximately $266,000. Finally, SG Americas Securities LLC grew its holdings in shares of Zymeworks by 30.4% in the fourth quarter. SG Americas Securities LLC now owns 26,782 shares of the company’s stock worth $392,000 after purchasing an additional 6,239 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Insider Transactions at Zymeworks

In related news, EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at approximately $132,638.80. This trade represents a 55.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ecor1 Capital, Llc acquired 58,306 shares of Zymeworks stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $12.64 per share, with a total value of $736,987.84. Following the completion of the acquisition, the director now directly owns 17,030,604 shares in the company, valued at $215,266,834.56. This represents a 0.34 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,507,168 shares of company stock valued at $19,339,774 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZYME. Wells Fargo & Company raised their target price on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. HC Wainwright raised their price target on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective for the company. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Zymeworks Price Performance

ZYME opened at $12.93 on Friday. The stock has a 50-day moving average price of $13.73 and a 200-day moving average price of $13.67. The firm has a market cap of $899.63 million, a PE ratio of -8.62 and a beta of 1.13. Zymeworks Inc. has a 1 year low of $7.97 and a 1 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.