ADAR1 Capital Management LLC Purchases New Holdings in Zymeworks Inc. $ZYME

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 bought a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $596,000. ADAR1 Capital Management LLC owned about 0.07% of Zymeworks as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ZYME. Janney Montgomery Scott LLC lifted its stake in Zymeworks by 12.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after acquiring an additional 1,300 shares during the period. Nuveen LLC purchased a new stake in Zymeworks in the first quarter valued at $2,368,000. Nuveen Asset Management LLC raised its stake in shares of Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after buying an additional 886 shares during the last quarter. MetLife Investment Management LLC grew its position in Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after buying an additional 2,053 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Zymeworks by 266.5% in the 1st quarter. SG Americas Securities LLC now owns 98,165 shares of the company's stock worth $1,169,000 after buying an additional 71,383 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Securities assumed 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 target 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. TD Cowen initiated coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, HC Wainwright reissued a "neutral" rating and set a $13.00 target price on shares of Zymeworks in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.43.

Zymeworks Price Performance

Shares of ZYME stock traded up $0.97 during trading hours on Friday, hitting $15.05. The company had a trading volume of 627,107 shares, compared to its average volume of 528,693. Zymeworks Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $17.70. The company's fifty day moving average is $13.63 and its 200 day moving average is $12.65. The stock has a market capitalization of $1.13 billion, a PE ratio of -10.03 and a beta of 1.27.

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