Zymeworks (NYSE:ZYME) Coverage Initiated by Analysts at Lifesci Capital

Equities researchers at Lifesci Capital assumed coverage on shares of Zymeworks (NYSE:ZYME) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $30.00 price target on the stock. Lifesci Capital’s target price points to a potential upside of 170.27% from the company’s current price.

ZYME has been the subject of several other reports. Wells Fargo & Company raised their price objective 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 lifted their price target on Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday. Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Stock Down 7.5 %

Shares of ZYME opened at $11.10 on Tuesday. The firm has a market cap of $772.30 million, a price-to-earnings ratio of -7.40 and a beta of 1.13. The business’s 50 day moving average is $14.14 and its two-hundred day moving average is $13.66. Zymeworks has a 52-week low of $7.97 and a 52-week high of $17.70.

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 204,098 shares of Zymeworks stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $13.13 per share, with a total value of $2,679,806.74. Following the completion of the acquisition, the director now owns 15,411,078 shares in the company, valued at $202,347,454.14. The trade was a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth Galbraith sold 57,291 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the transaction, the chief executive officer now owns 47,543 shares of the company’s stock, valued at $709,341.56. This represents a 54.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 603,539 shares of company stock worth $8,384,708 and sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by insiders.

Institutional Trading of Zymeworks

Large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. bought a new position in shares of Zymeworks in the fourth quarter worth $527,000. Voloridge Investment Management LLC acquired a new stake in Zymeworks in the fourth quarter worth about $640,000. Point72 Asset Management L.P. grew its position in Zymeworks by 565.8% in the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company’s stock valued at $4,833,000 after buying an additional 280,544 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after buying an additional 886 shares during the period. Finally, Deutsche Bank AG raised its position 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 buying an additional 17,849 shares in the last quarter. 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.