Perceptive Advisors LLC boosted its stake in Zymeworks Inc (NYSE:ZYME) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,403,026 shares of the company’s stock after purchasing an additional 14,136 shares during the quarter. Zymeworks comprises 2.2% of Perceptive Advisors LLC’s portfolio, making the stock its 14th largest position. Perceptive Advisors LLC owned about 6.10% of Zymeworks worth $109,241,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in Zymeworks by 331.4% during the first quarter. FMR LLC now owns 2,401,897 shares of the company’s stock worth $38,863,000 after buying an additional 1,845,142 shares during the period. California Public Employees Retirement System raised its position in Zymeworks by 5.8% in the third quarter. California Public Employees Retirement System now owns 67,900 shares of the company’s stock valued at $1,684,000 after purchasing an additional 3,700 shares during the period. State Street Corp purchased a new position in Zymeworks in the third quarter valued at about $308,000. HWG Holdings LP lifted its stake in shares of Zymeworks by 181.2% during the third quarter. HWG Holdings LP now owns 1,732 shares of the company’s stock worth $43,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Zymeworks by 61.7% during the third quarter. Stifel Financial Corp now owns 45,861 shares of the company’s stock worth $1,137,000 after purchasing an additional 17,498 shares in the last quarter. 55.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ZYME traded up $1.08 during midday trading on Thursday, reaching $32.76. The company had a trading volume of 562,536 shares, compared to its average volume of 480,799. The stock has a market capitalization of $1.45 billion, a P/E ratio of -8.90 and a beta of 1.50. The stock’s fifty day moving average price is $38.83 and its 200-day moving average price is $37.67. Zymeworks Inc has a one year low of $14.65 and a one year high of $52.75.
In other news, Director Troy Cox acquired 7,500 shares of the business’s stock in a transaction on Monday, January 27th. The shares were purchased at an average price of $46.50 per share, for a total transaction of $348,750.00. Following the completion of the purchase, the director now directly owns 7,500 shares of the company’s stock, valued at approximately $348,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by insiders.
ZYME has been the topic of several analyst reports. ValuEngine upgraded Zymeworks from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Raymond James reiterated a “buy” rating and set a $60.00 price objective on shares of Zymeworks in a research note on Tuesday, January 14th. Wells Fargo & Co reiterated an “overweight” rating and set a $58.00 price objective (up previously from $48.00) on shares of Zymeworks in a research note on Wednesday, January 15th. JPMorgan Chase & Co. began coverage on shares of Zymeworks in a research report on Monday, December 9th. They set a “neutral” rating and a $43.00 target price on the stock. Finally, Wolfe Research started coverage on shares of Zymeworks in a research note on Friday, January 10th. They issued an “outperform” rating and a $61.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Zymeworks has a consensus rating of “Buy” and an average target price of $48.33.
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.
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