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

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

A number of other institutional investors also recently bought and sold shares of the business. Deutsche Bank AG lifted its holdings in Zymeworks by 1.2% during the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company's stock worth $22,645,000 after buying an additional 17,849 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Zymeworks by 14.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company's stock valued at $14,240,000 after purchasing an additional 123,240 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Zymeworks by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock valued at $11,121,000 after purchasing an additional 17,092 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zymeworks by 93.9% in 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. Finally, Blackstone Inc. lifted its holdings in shares of Zymeworks by 2,171.4% in the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company's stock valued at $8,341,000 after purchasing an additional 544,633 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ZYME. HC Wainwright boosted their target price on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Lifesci Capital began coverage on Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price for the company. Finally, Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. Two investment 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 company has an average rating of "Moderate Buy" and an average price target of $21.00.

Zymeworks Stock Down 3.6%

ZYME stock traded down $0.42 during trading on Wednesday, hitting $11.19. The company had a trading volume of 156,829 shares, compared to its average volume of 601,345. The firm has a market cap of $778.57 million, a PE ratio of -7.46 and a beta of 1.24. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The firm has a 50-day moving average price of $11.82 and a 200-day moving average price of $13.43.

Zymeworks (NYSE:ZYME - Get Free Report) last released 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. The firm had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks's revenue was up 170.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. Sell-side analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling

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

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.