201,700 Shares in Zymeworks Inc. (NYSE:ZYME) Bought by Norges Bank

Norges Bank purchased a new stake in Zymeworks Inc. (NYSE:ZYME) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 201,700 shares of the company’s stock, valued at approximately $2,953,000. Norges Bank owned 0.29% of Zymeworks at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZYME. Charles Schwab Investment Management Inc. increased its stake in Zymeworks by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock valued at $1,667,000 after acquiring an additional 650 shares during the period. FMR LLC grew its stake in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. Stifel Financial Corp raised its holdings 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 in the last quarter. State Street Corp lifted its position in shares of Zymeworks by 6.1% during the 3rd 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 period. Finally, Jane Street Group LLC boosted its stake in Zymeworks by 27.3% in the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock valued at $1,008,000 after buying an additional 17,205 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $9.44 on Friday. The firm has a 50 day simple moving average of $12.75 and a 200 day simple moving average of $13.58. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70. The firm has a market cap of $656.81 million, a P/E ratio of -6.29 and a beta of 1.18.

Analyst Ratings Changes

ZYME has been the subject of a number of analyst reports. Citigroup lifted their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Wells Fargo & Company boosted their price target 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. HC Wainwright raised their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a report on Monday, December 16th. Finally, Lifesci Capital assumed coverage on Zymeworks in a report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc bought 196,438 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $11.17 per share, for a total transaction of $2,194,212.46. Following the transaction, the director now owns 17,699,774 shares in the company, valued at approximately $197,706,475.58. This trade represents a 1.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders bought 1,409,296 shares of company stock valued at $17,125,418. Company insiders own 1.92% 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.