Zymeworks Inc. (NYSE:ZYME) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in Zymeworks Inc. (NYSE:ZYME) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,306 shares of the company’s stock after selling 1,492 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.19% of Zymeworks worth $1,922,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC purchased a new position in Zymeworks in the third quarter worth approximately $266,000. FMR LLC raised its stake in Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after buying an additional 1,525 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after buying an additional 175,000 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock worth $924,000 after acquiring an additional 1,540 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZYME shares. HC Wainwright upped their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a report on Monday, December 16th. Citigroup lifted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Lifesci Capital initiated coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Stock Down 1.1 %

NYSE ZYME opened at $12.37 on Friday. The firm has a market cap of $860.67 million, a P/E ratio of -8.25 and a beta of 1.13. Zymeworks Inc. has a 52-week low of $7.97 and a 52-week high of $17.70. The business’s 50-day moving average price is $13.60 and its 200 day moving average price is $13.72.

Insider Buying and Selling at Zymeworks

In other Zymeworks news, EVP Jeffrey T. L. Smith sold 11,110 shares of the business’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 transaction of $165,761.20. Following the transaction, the executive vice president now owns 8,890 shares in the company, valued at approximately $132,638.80. The trade was a 55.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ecor1 Capital, Llc purchased 320,690 shares of Zymeworks stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the acquisition, the director now directly owns 16,040,851 shares in the company, valued at approximately $184,309,377.99. This trade represents a 2.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,576,088 shares of company stock worth $20,160,970 and have sold 89,601 shares worth $1,336,847. Company insiders own 1.92% of the company’s stock.

About Zymeworks

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.