Zymeworks (NYSE:ZYME) Now Covered by Analysts at Lifesci Capital

Lifesci Capital initiated coverage on shares of Zymeworks (NYSE:ZYME) in a research report report published on Tuesday,Benzinga reports. The firm issued an outperform rating and a $30.00 price target on the stock.

ZYME has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a report on Monday, December 16th. HC Wainwright raised their price target on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday. Citigroup boosted their price objective 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, Wells Fargo & Company raised their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Stock Performance

NYSE ZYME opened at $11.70 on Tuesday. The company has a market cap of $814.05 million, a PE ratio of -7.80 and a beta of 1.13. The firm’s 50 day moving average price is $14.01 and its 200-day moving average price 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 Zymeworks news, CEO Kenneth Galbraith sold 57,291 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $854,781.72. Following the sale, the chief executive officer now directly owns 47,543 shares of the company’s stock, valued at approximately $709,341.56. This trade represents a 54.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ecor1 Capital, Llc purchased 11,958 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the purchase, the director now directly owns 14,704,239 shares in the company, valued at $207,623,854.68. This trade represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 603,539 shares of company stock valued at $8,384,708 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Zymeworks

Several institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC grew its holdings in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC boosted its position in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. FMR LLC grew its stake in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after acquiring an additional 1,525 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Zymeworks in the 4th quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC lifted its stake in Zymeworks by 343.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares in the last quarter. Institutional investors and hedge funds 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.