HC Wainwright Issues Positive Forecast for Zymeworks (NYSE:ZYME) Stock Price

Zymeworks (NYSE:ZYME) had its target price raised by HC Wainwright from $12.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

ZYME has been the topic of several other research reports. 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. JPMorgan Chase & Co. raised shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Monday, December 16th. Finally, Citigroup upped their price target on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Zymeworks Price Performance

Zymeworks stock opened at $11.10 on Monday. The company has a market cap of $772.30 million, a price-to-earnings ratio of -7.40 and a beta of 1.13. Zymeworks has a 12 month low of $7.97 and a 12 month high of $17.70. The stock’s 50-day moving average is $14.14 and its 200-day moving average is $13.66.

Insider Transactions at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc bought 19,748 shares of the business’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $13.87 per share, with a total value of $273,904.76. Following the transaction, the director now directly owns 15,720,161 shares in the company, valued at approximately $218,038,633.07. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul Andrew Moore sold 21,200 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 14,741 shares of the company’s stock, valued at approximately $219,935.72. This trade represents a 58.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 603,539 shares of company stock valued at $8,384,708 and have sold 89,601 shares valued at $1,336,847. Corporate insiders own 1.92% of the company’s stock.

Institutional Trading of Zymeworks

Several institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Zymeworks by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after acquiring an additional 650 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after purchasing an additional 886 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after buying an additional 940 shares during the last quarter. Sterling Capital Management LLC raised its stake in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after buying an additional 1,524 shares in the last quarter. Finally, FMR LLC lifted its holdings in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after buying an additional 1,525 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

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.