Zymeworks (NYSE:ZYME) Price Target Raised to $13.00

Zymeworks (NYSE:ZYME) had its target price upped by equities researchers at HC Wainwright from $12.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price target points to a potential upside of 16.85% from the stock’s current price.

ZYME has been the subject of a number of other reports. Citigroup raised their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. 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 research report on Monday, December 16th. Finally, Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.50.

Zymeworks Trading Down 7.3 %

ZYME traded down $0.88 during trading on Monday, reaching $11.13. 472,903 shares of the company were exchanged, compared to its average volume of 472,754. Zymeworks has a 52 week low of $7.97 and a 52 week high of $17.70. The firm has a 50 day moving average of $14.14 and a 200 day moving average of $13.66. The stock has a market cap of $774.04 million, a P/E ratio of -7.43 and a beta of 1.13.

Insider Activity

In related news, EVP Jeffrey T. L. Smith sold 11,110 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $165,761.20. Following the sale, the executive vice president now 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 this hyperlink. Also, Director Ecor1 Capital, Llc acquired 11,958 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was purchased at an average price of $14.12 per share, with a total value of $168,846.96. Following the completion of the acquisition, the director now directly owns 14,704,239 shares in the company, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blackstone Inc. increased its position in Zymeworks by 2,171.4% during the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company’s stock valued at $8,341,000 after buying an additional 544,633 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Zymeworks in the 4th quarter worth $6,629,000. Schroder Investment Management Group purchased a new position in shares of Zymeworks during the 4th quarter valued at about $4,892,000. Assenagon Asset Management S.A. boosted its stake in shares of Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after acquiring an additional 311,107 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Zymeworks by 565.8% during the fourth quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after acquiring an additional 280,544 shares in the last quarter. 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.