Polar Asset Management Partners Inc. Acquires New Position in Zymeworks Inc. (NYSE:ZYME)

Polar Asset Management Partners Inc. bought a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 36,000 shares of the company's stock, valued at approximately $527,000. Polar Asset Management Partners Inc. owned about 0.05% of Zymeworks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen Asset Management LLC raised its position in Zymeworks by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after acquiring an additional 886 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after purchasing an additional 940 shares during the period. Sterling Capital Management LLC raised its holdings 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 valued at $25,000 after purchasing an additional 1,524 shares during the period. MetLife Investment Management LLC lifted its stake in Zymeworks by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after purchasing an additional 2,053 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Zymeworks by 19.2% during 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 period. Institutional investors own 92.89% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on ZYME shares. TD Cowen assumed coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Lifesci Capital assumed coverage on Zymeworks in a report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price on the stock. Citigroup raised their price target on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. HC Wainwright upped their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Finally, TD Securities started coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Zymeworks currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc bought 73,953 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average cost of $11.16 per share, for a total transaction of $825,315.48. Following the transaction, the director now owns 17,773,727 shares in the company, valued at $198,354,793.32. The trade was a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 1,405,768 shares of company stock worth $16,773,032 in the last quarter. Corporate insiders own 1.92% of the company's stock.

Zymeworks Price Performance

NYSE ZYME traded up $0.12 on Thursday, reaching $11.35. The stock had a trading volume of 247,276 shares, compared to its average volume of 599,693. The company has a market cap of $789.70 million, a P/E ratio of -7.57 and a beta of 1.24. The firm has a fifty day moving average of $11.64 and a two-hundred day moving average of $13.17. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70.

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

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.