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AlphaQuest LLC Purchases 28,868 Shares of Zymeworks Inc. $ZYME

Zymeworks logo with Medical background

Key Points

  • AlphaQuest LLC significantly increased its holdings in Zymeworks Inc. by 1,028.1%, acquiring an additional 28,868 shares to reach a total of 31,676 shares valued at $377,000.
  • Zymeworks reported a positive earnings surprise for the quarter with $0.03 earnings per share, exceeding the consensus estimate of ($0.52), and a revenue increase of 153.2% year-over-year.
  • Brokerage ratings for Zymeworks reflect a consensus rating of "Moderate Buy" with a price target average of $21.43, indicating positive market sentiment towards the stock.
  • Need better tools to track Zymeworks? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

AlphaQuest LLC boosted its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 1,028.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,676 shares of the company's stock after purchasing an additional 28,868 shares during the period. AlphaQuest LLC's holdings in Zymeworks were worth $377,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. grew its holdings in Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock valued at $119,000 after purchasing an additional 4,559 shares during the last quarter. Tejara Capital Ltd grew its holdings in Zymeworks by 391.5% during the 1st quarter. Tejara Capital Ltd now owns 189,409 shares of the company's stock valued at $2,256,000 after purchasing an additional 150,872 shares during the last quarter. Nuveen LLC bought a new position in Zymeworks during the 1st quarter valued at about $2,368,000. Invesco Ltd. grew its holdings in Zymeworks by 12.7% during the 1st quarter. Invesco Ltd. now owns 78,206 shares of the company's stock valued at $931,000 after purchasing an additional 8,824 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in 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 purchasing an additional 5,840 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Price Performance

Shares of NYSE:ZYME traded down $0.03 during trading hours on Friday, hitting $14.81. The company's stock had a trading volume of 314,217 shares, compared to its average volume of 526,977. Zymeworks Inc. has a 52 week low of $9.03 and a 52 week high of $17.70. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -9.87 and a beta of 1.26. The firm's fifty day moving average price is $13.45 and its 200 day moving average price is $12.66.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.52) by $0.55. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $48.73 million during the quarter, compared to analyst estimates of $17.18 million. During the same quarter in the previous year, the business posted ($0.49) EPS. The company's quarterly revenue was up 153.2% compared to the same quarter last year. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZYME has been the subject of a number of research analyst reports. TD Securities initiated coverage on shares of Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating for the company. Citigroup lifted their price objective on shares of Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 11th. HC Wainwright reiterated a "neutral" rating and set a $13.00 price objective on shares of Zymeworks in a report on Thursday, July 3rd. Finally, TD Cowen initiated coverage on shares of Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Zymeworks presently has a consensus rating of "Moderate Buy" and an average price target of $21.43.

View Our Latest Analysis on ZYME

Zymeworks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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