Farallon Capital Management LLC Reduces Stock Position in Zymeworks Inc. (NYSE:ZYME)

Farallon Capital Management LLC cut its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,329,974 shares of the company's stock after selling 31,026 shares during the quarter. Farallon Capital Management LLC owned approximately 1.93% of Zymeworks worth $19,471,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ZYME. Sterling Capital Management LLC grew its position in shares of 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 buying an additional 1,524 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Zymeworks by 480.2% in the fourth 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 stake in Zymeworks during the fourth quarter valued at about $108,000. Tower Research Capital LLC TRC grew its holdings in Zymeworks by 343.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock valued at $142,000 after purchasing an additional 7,518 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Zymeworks in the fourth quarter valued at about $151,000. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Lifesci Capital initiated coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. Citigroup increased their target price on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, HC Wainwright increased their price objective on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Zymeworks Trading Down 0.1%

ZYME traded down $0.01 during midday trading on Friday, hitting $11.31. 658,545 shares of the company were exchanged, compared to its average volume of 605,349. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The firm has a market capitalization of $786.92 million, a price-to-earnings ratio of -7.54 and a beta of 1.24. The company'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 posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $27.11 million for the quarter, compared to analysts' expectations of $20.65 million. During the same period in the previous year, the firm posted ($0.42) EPS. Zymeworks's revenue was up 170.3% compared to the same quarter last year. On average, equities analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $13.08 per share, with a total value of $296,772.12. Following the transaction, the director now owns 17,157,802 shares in the company, valued at $224,424,050.16. This represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 1,350,347 shares of company stock valued at $16,137,499 in the last ninety days. 1.92% of the stock is currently owned by corporate insiders.

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.