Dimensional Fund Advisors LP Increases Position in Zymeworks Inc. (NYSE:ZYME)

Dimensional Fund Advisors LP grew its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 972,742 shares of the company's stock after acquiring an additional 123,240 shares during the quarter. Dimensional Fund Advisors LP owned about 1.41% of Zymeworks worth $14,240,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in shares of Zymeworks by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after purchasing an additional 311,107 shares during the last quarter. Walleye Capital LLC purchased a new position in Zymeworks in the 4th quarter worth approximately $6,629,000. Empowered Funds LLC increased its stake in Zymeworks by 5.1% in the 4th quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock worth $5,164,000 after purchasing an additional 17,092 shares during the period. Schroder Investment Management Group purchased a new position in Zymeworks in the 4th quarter worth approximately $4,892,000. Finally, Renaissance Technologies LLC increased its stake in Zymeworks by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 285,700 shares of the company's stock worth $4,183,000 after purchasing an additional 101,100 shares during the period. Institutional investors own 92.89% of the company's stock.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc acquired 320,690 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $11.49 per share, with a total value of $3,684,728.10. Following the transaction, the director now directly owns 16,040,851 shares of the company's stock, valued at $184,309,377.99. This trade represents a 2.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have purchased 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is currently owned by company insiders.

Zymeworks Stock Down 3.7%

Zymeworks stock traded down $0.43 during midday trading on Wednesday, reaching $11.18. 82,106 shares of the stock traded hands, compared to its average volume of 601,053. The stock's fifty day moving average is $11.82 and its 200-day moving average is $13.43. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70. The stock has a market cap of $778.01 million, a P/E ratio of -7.45 and a beta of 1.24.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZYME shares. Citigroup raised their target price on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Finally, Lifesci Capital started coverage on Zymeworks in a report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target on the stock. Two 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 stock. According to MarketBeat, Zymeworks has a consensus rating of "Moderate Buy" and an average 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.