Zymeworks Inc. (NYSE:ZYME) Given Consensus Recommendation of “Moderate Buy” by Analysts

Zymeworks Inc. (NYSE:ZYME) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.17.

ZYME has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. HC Wainwright restated a “neutral” rating and issued a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Finally, 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.

Zymeworks Price Performance

Shares of NYSE ZYME opened at $15.01 on Friday. Zymeworks has a 1 year low of $7.97 and a 1 year high of $17.70. The company’s 50-day moving average is $14.13 and its 200 day moving average is $13.29. The stock has a market capitalization of $1.03 billion, a P/E ratio of -10.01 and a beta of 1.10.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 204,098 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average price of $13.13 per share, for a total transaction of $2,679,806.74. Following the completion of the purchase, the director now owns 15,411,078 shares in the company, valued at approximately $202,347,454.14. This represents a 1.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey T. L. Smith sold 11,110 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 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. This trade represents a 55.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 603,539 shares of company stock worth $8,384,708 and have sold 89,601 shares worth $1,336,847. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZYME. Sterling Capital Management LLC lifted its position 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 purchasing an additional 1,524 shares during the period. AlphaQuest LLC lifted its position in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock valued at $41,000 after purchasing an additional 2,324 shares during the period. FMR LLC lifted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Zymeworks during the third quarter valued at approximately $47,000. Finally, nVerses Capital LLC purchased a new stake in Zymeworks during the third quarter valued at approximately $79,000. Institutional investors own 92.89% 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.