Walleye Capital LLC Invests $6.63 Million in Zymeworks Inc. (NYSE:ZYME)

Walleye Capital LLC purchased a new position in shares of Zymeworks Inc. (NYSE:ZYME) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 452,804 shares of the company’s stock, valued at approximately $6,629,000. Walleye Capital LLC owned about 0.66% of Zymeworks as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZYME. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 650 shares during the last quarter. FMR LLC boosted its position in Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the last quarter. Stifel Financial Corp grew its stake in Zymeworks by 2.1% during the 3rd quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after acquiring an additional 1,540 shares in the last quarter. State Street Corp raised its holdings in Zymeworks by 6.1% in the 3rd quarter. State Street Corp now owns 1,171,777 shares of the company’s stock valued at $14,706,000 after acquiring an additional 67,401 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Zymeworks by 27.3% in the 3rd quarter. Jane Street Group LLC now owns 80,326 shares of the company’s stock worth $1,008,000 after purchasing an additional 17,205 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc acquired 320,690 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the purchase, the director now owns 16,040,851 shares of the company’s stock, valued at $184,309,377.99. This represents a 2.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have purchased 1,296,142 shares of company stock worth $15,586,088. 1.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZYME. HC Wainwright upped their price target on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Lifesci Capital initiated coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price for the company. Citigroup lifted their price target on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company upped their price objective 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. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Zymeworks Price Performance

Shares of ZYME stock opened at $10.94 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 $761.17 million, a PE ratio of -7.29 and a beta of 1.18. The company has a 50-day moving average of $12.52 and a two-hundred day moving average of $13.54.

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.