Vident Investment Advisory LLC purchased a new position in Zymeworks Inc (NYSE:ZYME) during the second quarter, Holdings Channel reports. The firm purchased 151,791 shares of the company’s stock, valued at approximately $2,243,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in Zymeworks during the 2nd quarter valued at about $101,000. Raymond James & Associates bought a new position in Zymeworks during the 2nd quarter valued at about $578,000. Point72 Asset Management L.P. bought a new position in Zymeworks during the 2nd quarter valued at about $1,478,000. Laurion Capital Management LP bought a new position in Zymeworks during the 2nd quarter valued at about $1,612,000. Finally, Wedge Capital Management L L P NC bought a new position in Zymeworks during the 2nd quarter valued at about $2,162,000. Institutional investors and hedge funds own 25.07% of the company’s stock.

In other news, major shareholder Eli & Co Lilly sold 6,429 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $14.32, for a total transaction of $92,063.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 78,317 shares of company stock valued at $1,113,895 in the last ninety days.

ZYME has been the topic of several research analyst reports. Citigroup cut shares of Zymeworks from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 6th. Raymond James upped their target price on shares of Zymeworks from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. Canaccord Genuity set a $21.00 target price on shares of Zymeworks and gave the company a “buy” rating in a research note on Wednesday, September 5th. ValuEngine upgraded shares of Zymeworks from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Finally, Wells Fargo & Co upped their target price on shares of Zymeworks from $20.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.68.

ZYME opened at $14.66 on Friday. Zymeworks Inc has a 52-week low of $6.87 and a 52-week high of $29.00.

Zymeworks (NYSE:ZYME) last posted its earnings results on Wednesday, August 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.36. Zymeworks had a negative net margin of 14.66% and a negative return on equity of 8.83%. The business had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $22.00 million. equities research analysts expect that Zymeworks Inc will post -2.42 earnings per share for the current year.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.

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Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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