Assenagon Asset Management S.A. Sells 147,184 Shares of Zymeworks Inc. (NYSE:ZYME)

Assenagon Asset Management S.A. lowered its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 22.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 495,067 shares of the company's stock after selling 147,184 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.71% of Zymeworks worth $5,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after acquiring an additional 1,524 shares during the last quarter. AlphaQuest LLC raised its position in shares of Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Zymeworks by 1,113.3% during the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after acquiring an additional 5,934 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Zymeworks during the fourth quarter worth $108,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Zymeworks by 343.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after purchasing an additional 7,518 shares during the period. Institutional investors own 92.89% of the company's stock.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 22,689 shares of Zymeworks stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $13.08 per share, with a total value of $296,772.12. Following the completion of the transaction, the director now owns 17,157,802 shares of the company's stock, valued at approximately $224,424,050.16. This trade represents a 0.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 616,722 shares of company stock valued at $7,243,221 over the last three months. Company insiders own 1.92% of the company's stock.

Zymeworks Stock Performance

NYSE:ZYME traded down $0.43 on Friday, reaching $12.67. The company's stock had a trading volume of 613,337 shares, compared to its average volume of 582,533. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The firm has a market cap of $881.54 million, a PE ratio of -8.45 and a beta of 1.17. The business's 50-day moving average price is $11.80 and its two-hundred day moving average price is $12.95.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. The company had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks's revenue for the quarter was up 170.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.42) earnings per share. As a group, sell-side analysts expect that Zymeworks Inc. will post -1.39 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.