Blackstone Inc. Purchases 544,633 Shares of Zymeworks Inc. (NYSE:ZYME)

Blackstone Inc. raised its position in Zymeworks Inc. (NYSE:ZYME) by 2,171.4% in the 4th quarter, Holdings Channel reports. The firm owned 569,715 shares of the company’s stock after buying an additional 544,633 shares during the quarter. Blackstone Inc.’s holdings in Zymeworks were worth $8,341,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in shares of Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after buying an additional 127,595 shares in the last quarter. Assenagon Asset Management S.A. raised 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 valued at $9,403,000 after acquiring an additional 311,107 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Zymeworks by 18.1% in the 4th quarter. Rhumbline Advisers now owns 103,876 shares of the company’s stock valued at $1,521,000 after acquiring an additional 15,920 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Zymeworks during the fourth quarter worth about $888,000. Finally, Ritholtz Wealth Management increased its position in shares of Zymeworks by 6.1% in the fourth quarter. Ritholtz Wealth Management now owns 74,466 shares of the company’s stock worth $1,090,000 after purchasing an additional 4,297 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Zymeworks Stock Performance

ZYME stock opened at $12.85 on Tuesday. The firm has a market cap of $894.06 million, a P/E ratio of -8.57 and a beta of 1.24. The firm’s fifty day moving average is $11.99 and its 200 day moving average is $13.50. Zymeworks Inc. has a 52 week low of $8.21 and a 52 week high of $17.70.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the transaction, the director now owns 16,802,141 shares of the company’s stock, valued at $209,690,719.68. This trade represents a 2.87 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 1,350,347 shares of company stock worth $16,137,499 over the last three months. Company insiders own 1.92% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the subject of several research analyst reports. HC Wainwright lifted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks 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.