Trexquant Investment LP Invests $1.49 Million in Zymeworks Inc. (NYSE:ZYME)

Trexquant Investment LP purchased a new position in shares of Zymeworks Inc. (NYSE:ZYME) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 101,996 shares of the company’s stock, valued at approximately $1,493,000. Trexquant Investment LP owned 0.15% of Zymeworks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ZYME. Schroder Investment Management Group acquired a new stake in shares of Zymeworks in the fourth quarter valued at $4,892,000. Assenagon Asset Management S.A. raised its stake in shares of Zymeworks by 93.9% in the fourth 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. Hillsdale Investment Management Inc. acquired a new stake in shares of Zymeworks in the fourth quarter valued at $3,368,000. Norges Bank acquired a new stake in shares of Zymeworks in the fourth quarter valued at $2,953,000. Finally, Barclays PLC raised its stake in shares of Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock valued at $1,937,000 after acquiring an additional 127,595 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Stock Performance

ZYME opened at $10.00 on Thursday. The business’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $13.60. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The stock has a market capitalization of $695.77 million, a P/E ratio of -6.67 and a beta of 1.18.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 196,438 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $11.17 per share, with a total value of $2,194,212.46. Following the completion of the acquisition, the director now directly owns 17,699,774 shares in the company, valued at $197,706,475.58. This represents a 1.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have bought 1,613,394 shares of company stock worth $19,805,225. Corporate insiders own 1.92% of the company’s stock.

Analyst Ratings Changes

ZYME has been the topic of several analyst reports. HC Wainwright increased 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. Wells Fargo & Company raised their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, December 16th. Citigroup raised their price target on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Lifesci Capital began coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target on the stock. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.