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

Blackstone Inc. lifted its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 2,171.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 569,715 shares of the company's stock after acquiring an additional 544,633 shares during the period. Blackstone Inc. owned about 0.83% of Zymeworks worth $8,341,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after purchasing an additional 1,524 shares during the last quarter. AlphaQuest LLC boosted its position in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after acquiring an additional 2,324 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Zymeworks in the fourth quarter worth $108,000. Tower Research Capital LLC TRC grew its stake in shares of Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after purchasing an additional 7,518 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Zymeworks during the fourth quarter valued at $151,000. 92.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the acquisition, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders bought 1,350,347 shares of company stock valued at $16,137,499. Company insiders own 1.92% of the company's stock.

Zymeworks Price Performance

Zymeworks stock traded down $0.01 during trading hours on Friday, hitting $11.31. The company had a trading volume of 658,545 shares, compared to its average volume of 605,349. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The firm's fifty day moving average is $11.86 and its 200-day moving average is $13.45. The firm has a market capitalization of $786.92 million, a P/E ratio of -7.54 and a beta of 1.24.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. The business had revenue of $27.11 million for the quarter, compared to the consensus estimate of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks's revenue for the quarter was up 170.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.42) EPS. Analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

ZYME has been the subject of a number of recent analyst reports. HC Wainwright increased 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 target price on 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 price target on the stock. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zymeworks currently has a consensus rating of "Moderate Buy" and an average price target 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.