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

Polar Asset Management Partners Inc. acquired a new position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 36,000 shares of the company's stock, valued at approximately $527,000. Polar Asset Management Partners Inc. owned about 0.05% of Zymeworks at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ZYME. Voloridge Investment Management LLC purchased a new stake in Zymeworks in the fourth quarter valued at $640,000. Point72 Asset Management L.P. lifted its position in Zymeworks by 565.8% in the fourth quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company's stock valued at $4,833,000 after acquiring an additional 280,544 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after acquiring an additional 886 shares during the last quarter. Deutsche Bank AG lifted its position in Zymeworks by 1.2% in the fourth quarter. Deutsche Bank AG now owns 1,546,772 shares of the company's stock valued at $22,645,000 after acquiring an additional 17,849 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in Zymeworks by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock valued at $11,121,000 after acquiring an additional 17,092 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Lifesci Capital assumed coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price target for the company. HC Wainwright lifted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. TD Securities started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Citigroup lifted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Finally, TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zymeworks currently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 320,690 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the acquisition, the director now owns 16,040,851 shares in the company, valued at approximately $184,309,377.99. This represents a 2.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 1,405,768 shares of company stock worth $16,773,032 over the last ninety days. 1.92% of the stock is currently owned by company insiders.

Zymeworks Trading Up 2.8%

Shares of Zymeworks stock traded up $0.32 on Friday, reaching $11.67. 504,342 shares of the stock were exchanged, compared to its average volume of 598,843. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The business has a fifty day moving average price of $11.61 and a two-hundred day moving average price of $13.08. The firm has a market capitalization of $811.96 million, a PE ratio of -7.78 and a beta of 1.24.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (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 in the previous year, the business posted ($0.42) earnings per share. The business's revenue was up 170.3% compared to the same quarter last year. Research analysts expect that Zymeworks Inc. will post -1.39 EPS for the current year.

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.