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

Assenagon Asset Management S.A. decreased its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 22.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after purchasing an additional 1,524 shares during the period. AlphaQuest LLC grew its stake in shares of Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares during the period. GAMMA Investing LLC increased its holdings in Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after acquiring an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Zymeworks during the 4th quarter worth approximately $108,000. Finally, Tower Research Capital LLC TRC raised its stake in Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after acquiring an additional 7,518 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 5,919 shares of the company's stock in a transaction dated Monday, May 19th. The stock was purchased at an average price of $11.78 per share, for a total transaction of $69,725.82. Following the acquisition, the director now owns 17,883,908 shares in the company, valued at $210,672,436.24. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired a total of 502,139 shares of company stock worth $5,817,966 in the last three months. Insiders own 1.92% of the company's stock.

Zymeworks Stock Up 2.7%

NYSE ZYME traded up $0.33 during trading on Wednesday, hitting $12.57. 156,198 shares of the stock traded hands, compared to its average volume of 579,593. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The firm has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $12.92. The company has a market capitalization of $874.37 million, a P/E ratio of -8.37 and a beta of 1.18.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks's quarterly revenue was up 170.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.42) earnings per share. As a group, research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current fiscal 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.