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

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

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after buying an additional 1,524 shares during the last quarter. AlphaQuest LLC boosted its holdings in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Zymeworks in the fourth quarter worth approximately $151,000. New York State Common Retirement Fund boosted its holdings in Zymeworks by 42.7% in the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock worth $196,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Zymeworks by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after purchasing an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Stock Up 6.3%

ZYME traded up $0.71 during trading on Monday, hitting $12.02. The company's stock had a trading volume of 533,312 shares, compared to its average volume of 605,061. Zymeworks Inc. has a one year low of $8.21 and a one year high of $17.70. The firm has a market cap of $836.32 million, a PE ratio of -8.01 and a beta of 1.24. The business's 50 day simple moving average is $11.86 and its 200-day simple moving average is $13.45.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. The firm 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%. The company's revenue was up 170.3% on a year-over-year basis. During the same period last year, the firm earned ($0.42) EPS. Equities research analysts expect that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ZYME shares. HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, Citigroup raised their target price on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Insider Activity

In related news, Director Ecor1 Capital, Llc purchased 4,397 shares of Zymeworks stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $11.75 per share, for a total transaction of $51,664.75. Following the acquisition, the director now owns 17,259,548 shares in the company, valued at approximately $202,799,689. The trade was a 0.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 1,350,347 shares of company stock worth $16,137,499 in the last three months. Company insiders own 1.92% of the company's stock.

Zymeworks Company 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.