Tejara Capital Ltd Invests $564,000 in Zymeworks Inc. (NYSE:ZYME)

Tejara Capital Ltd purchased a new position in Zymeworks Inc. (NYSE:ZYME) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,537 shares of the company’s stock, valued at approximately $564,000. Tejara Capital Ltd owned 0.06% of Zymeworks as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZYME. AlphaQuest LLC grew 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 buying an additional 2,324 shares during the period. FMR LLC grew 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 buying an additional 1,525 shares during the period. New York State Common Retirement Fund grew its position in Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock valued at $196,000 after buying an additional 4,000 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after buying an additional 940 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Zymeworks during the third quarter valued at approximately $266,000. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Stock Performance

ZYME stock opened at $12.58 on Tuesday. The company’s fifty day moving average price is $13.82 and its 200-day moving average price is $13.68. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The company has a market capitalization of $875.28 million, a PE ratio of -8.39 and a beta of 1.13.

Analyst Upgrades and Downgrades

ZYME has been the subject of several recent research reports. Lifesci Capital initiated coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Monday, December 16th. Wells Fargo & Company boosted their target price 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. HC Wainwright lifted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, March 10th. Finally, Citigroup lifted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 7th. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 11,958 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were bought at an average cost of $14.12 per share, for a total transaction of $168,846.96. Following the completion of the transaction, the director now owns 14,704,239 shares of the company’s stock, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Galbraith sold 57,291 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $14.92, for a total value of $854,781.72. Following the completion of the sale, the chief executive officer now owns 47,543 shares in the company, valued at $709,341.56. This represents a 54.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,392,585 shares of company stock worth $17,914,519 and have sold 89,601 shares worth $1,336,847. 1.92% of the stock is currently owned by insiders.

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.