50,000 Shares in Zymeworks Inc. $ZYME Acquired by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management LLC acquired a new stake in Zymeworks Inc. during the first quarter, purchasing 50,000 shares valued at approximately $596,000, equating to about 0.07% ownership of the company.
• Zymeworks recently reported positive quarterly earnings, with an EPS of $0.03, beating the consensus estimate of ($0.52) and showing a significant year-over-year revenue increase of 153.2%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Zymeworks stock, with an average price target of $21.43, reflecting optimistic sentiments about the company's growth prospects.

ADAR1 Capital Management LLC purchased a new stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 50,000 shares of the company's stock, valued at approximately $596,000. ADAR1 Capital Management LLC owned about 0.07% of Zymeworks at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Deutsche Bank AG boosted its position in shares of Zymeworks by 0.4% during the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company's stock valued at $18,492,000 after acquiring an additional 5,840 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zymeworks by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company's stock valued at $14,240,000 after acquiring an additional 123,240 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Zymeworks by 2.3% during the 4th 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. Blackstone Inc. boosted its position in shares of Zymeworks by 2,171.4% during the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company's stock valued at $8,341,000 after acquiring an additional 544,633 shares during the last quarter. Finally, Vestal Point Capital LP boosted its position in shares of Zymeworks by 170.3% during the 1st quarter. Vestal Point Capital LP now owns 500,000 shares of the company's stock valued at $5,955,000 after acquiring an additional 315,000 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ZYME. TD Securities began coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock. TD Cowen began coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. Finally, Citigroup upped their target price on shares of Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Zymeworks currently has an average rating of "Moderate Buy" and an average target price of $21.43.

Zymeworks Stock Performance

Shares of ZYME traded up $0.97 during mid-day trading on Friday, hitting $15.05. 627,107 shares of the company's stock were exchanged, compared to its average volume of 528,693. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -10.03 and a beta of 1.27. Zymeworks Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $17.70. The stock's 50-day moving average is $13.63 and its 200-day moving average is $12.66.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.55. The business had revenue of $48.73 million for the quarter, compared to analysts' expectations of $17.18 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business's quarterly revenue was up 153.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) earnings per share. As a group, equities research analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current 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.