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

Shares of Zymeworks Inc. (NYSE:ZYME) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.00.

A number of research firms have recently weighed in on ZYME. 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 report on Monday, December 16th. Lifesci Capital began coverage on shares of Zymeworks in a report on Tuesday. They set an “outperform” rating and a $30.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. 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. Finally, HC Wainwright raised their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday.

Zymeworks Stock Up 5.0 %

ZYME stock opened at $12.28 on Thursday. The company has a market cap of $854.41 million, a price-to-earnings ratio of -8.19 and a beta of 1.13. The company has a 50 day moving average of $14.01 and a two-hundred day moving average of $13.66. Zymeworks has a 12-month low of $7.97 and a 12-month high of $17.70.

Insider Activity at Zymeworks

In other Zymeworks news, insider Paul Andrew Moore sold 21,200 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $316,304.00. Following the sale, the insider now directly owns 14,741 shares in the company, valued at $219,935.72. This trade represents a 58.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ecor1 Capital, Llc purchased 19,748 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was bought at an average price of $13.87 per share, for a total transaction of $273,904.76. Following the completion of the transaction, the director now directly owns 15,720,161 shares in the company, valued at approximately $218,038,633.07. The trade was a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 603,539 shares of company stock worth $8,384,708 and have sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Zymeworks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Zymeworks by 0.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock worth $24,416,000 after purchasing an additional 14,604 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Zymeworks by 1.2% during the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company’s stock worth $22,645,000 after acquiring an additional 17,849 shares during the period. State Street Corp lifted its holdings 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 acquiring an additional 67,401 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Zymeworks by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock worth $14,240,000 after acquiring an additional 123,240 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings 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 worth $11,121,000 after acquiring an additional 17,092 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

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.