Platinum Investment Management Ltd. Has $4.49 Million Holdings in Zymeworks Inc. (NYSE:ZYME)

Platinum Investment Management Ltd. trimmed its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 306,460 shares of the company’s stock after selling 21,062 shares during the period. Platinum Investment Management Ltd. owned approximately 0.44% of Zymeworks worth $4,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Zymeworks by 6.1% during the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock worth $14,706,000 after buying an additional 67,401 shares in the last quarter. Barclays PLC lifted its holdings in shares of Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after purchasing an additional 127,595 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Zymeworks by 39.8% in the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company’s stock worth $7,718,000 after purchasing an additional 175,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after purchasing an additional 311,107 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Zymeworks by 84.2% in the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after purchasing an additional 1,525 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $12.34 on Wednesday. Zymeworks Inc. has a 1 year low of $7.97 and a 1 year high of $17.70. The firm has a market cap of $858.58 million, a PE ratio of -8.23 and a beta of 1.13. The stock has a fifty day moving average price of $13.79 and a 200-day moving average price of $13.69.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Zymeworks news, CEO Kenneth Galbraith sold 57,291 shares of Zymeworks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total transaction of $854,781.72. Following the completion of the transaction, the chief executive officer now owns 47,543 shares of the company’s stock, valued at $709,341.56. The trade was a 54.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey T. L. Smith sold 11,110 shares of Zymeworks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $14.92, for a total value of $165,761.20. Following the transaction, the executive vice president now directly owns 8,890 shares of the company’s stock, valued at $132,638.80. The trade was a 55.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,392,585 shares of company stock valued at $17,914,519 and sold 89,601 shares valued at $1,336,847. 1.92% of the stock is currently owned by insiders.

Zymeworks Company Profile

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.