Virtus ETF Advisers LLC Sells 4,481 Shares of Zymeworks Inc. (NYSE:ZYME)

Virtus ETF Advisers LLC lowered its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 44.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,633 shares of the company’s stock after selling 4,481 shares during the period. Virtus ETF Advisers LLC’s holdings in Zymeworks were worth $82,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ZYME. Dimensional Fund Advisors LP raised its stake in Zymeworks by 14.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock worth $14,240,000 after buying an additional 123,240 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after buying an additional 311,107 shares during the last quarter. Walleye Capital LLC bought a new position in Zymeworks during the fourth quarter worth $6,629,000. Empowered Funds LLC raised its stake in Zymeworks by 5.1% during the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company’s stock worth $5,164,000 after buying an additional 17,092 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in Zymeworks during the fourth quarter worth $4,892,000. Institutional investors own 92.89% of the company’s stock.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 4,397 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were bought at an average price of $11.75 per share, for a total transaction of $51,664.75. Following the completion of the acquisition, the director now directly owns 17,259,548 shares of the company’s stock, valued at $202,799,689. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 1,350,347 shares of company stock valued at $16,137,499 over the last ninety days. 1.92% of the stock is currently owned by insiders.

Zymeworks Price Performance

ZYME opened at $12.88 on Tuesday. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The firm has a market capitalization of $896.15 million, a PE ratio of -8.59 and a beta of 1.18. The company’s 50-day moving average is $12.09 and its 200 day moving average is $13.52.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ZYME shares. HC Wainwright lifted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Citigroup raised their price target 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 initiated coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.