Assenagon Asset Management S.A. bought a new position in shares of Zymeworks Inc. (NYSE:ZYME – Free Report) during the third quarter, HoldingsChannel reports. The firm bought 331,144 shares of the company’s stock, valued at approximately $4,156,000.
Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Zymeworks in the third quarter valued at approximately $79,000. MQS Management LLC bought a new position in shares of Zymeworks in the second quarter valued at approximately $92,000. Arizona State Retirement System raised its stake in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Zymeworks in the first quarter valued at approximately $117,000. 92.89% of the stock is owned by institutional investors and hedge funds.
Zymeworks Price Performance
ZYME stock opened at $13.70 on Wednesday. The company has a 50 day moving average price of $12.44 and a 200 day moving average price of $10.38. Zymeworks Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $14.05. The stock has a market capitalization of $968.66 million, a PE ratio of -7.65 and a beta of 1.20.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ZYME. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday.
Get Our Latest Stock Report on Zymeworks
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.
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