Calamos Advisors LLC Purchases New Stake in Zymeworks Inc. $ZYME

Key Points

• Calamos Advisors opened a new position in Zymeworks, buying 46,516 shares worth about $1.23 million, or roughly 0.07% of the company.
• Institutional investors and hedge funds own 92.89% of Zymeworks shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $41.67.
• Zymeworks reported quarterly revenue of $512.92 million, well above the $227.40 million consensus estimate, and revenue increased 828.7% year over year; EPS of $2.28 also narrowly beat estimates.

Calamos Advisors LLC acquired a new stake in Zymeworks Inc. (NASDAQ:ZYME - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 46,516 shares of the company's stock, valued at approximately $1,232,000. Calamos Advisors LLC owned about 0.07% of Zymeworks at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nykredit A S purchased a new stake in shares of Zymeworks during the 2nd quarter worth $25,000. Sterling Capital Management LLC increased its holdings in Zymeworks by 813.3% in the third quarter. Sterling Capital Management LLC now owns 1,507 shares of the company's stock valued at $40,000 after buying an additional 1,342 shares during the last quarter. State of Wyoming purchased a new position in Zymeworks in the second quarter valued at $73,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Zymeworks in the third quarter valued at $96,000. Finally, State of Alaska Department of Revenue acquired a new stake in Zymeworks in the third quarter valued at $102,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Zymeworks from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zymeworks in a report on Thursday, October 15th. JPMorgan Chase & Co. increased their price objective on Zymeworks from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Wolfe Research began coverage on Zymeworks in a report on Thursday, September 17th. They issued an "outperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft set a $32.00 price target on shares of Zymeworks in a research note on Wednesday, August 26th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Zymeworks Price Performance

Shares of NASDAQ:ZYME opened at $30.81 on Tuesday. Zymeworks Inc. has a 12 month low of $16.57 and a 12 month high of $31.49. The firm has a market capitalization of $2.17 billion, a P/E ratio of -15.25 and a beta of 1.32. The company's fifty day moving average price is $27.46 and its 200 day moving average price is $25.38.

Zymeworks (NASDAQ:ZYME - Get Free Report) last released its quarterly earnings data on Monday, November 9th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.01. The company had revenue of $512.92 million during the quarter, compared to the consensus estimate of $227.40 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. Zymeworks's revenue for the quarter was up 828.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, sell-side analysts anticipate that Zymeworks Inc. will post 1.32 EPS for the current year.

Insider Activity at Zymeworks

In other news, EVP Adam Schayowitz sold 13,832 shares of Zymeworks stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $357,557.20. Following the sale, the executive vice president owned 23,205 shares in the company, valued at approximately $599,849.25. The trade was a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 37.73% of the company's stock.

Zymeworks Profile

Zymeworks Inc is a biotechnology company headquartered in Vancouver, Canada, that develops engineered medicines, with a focus on treatments for cancer and other serious diseases. Its antibody-engineering technologies are designed to create therapies that can engage multiple biological targets or modify immune responses.

The company's lead program is zanidatamab, a HER2-targeted bispecific antibody. In the United States, it is marketed by partner Jazz Pharmaceuticals as Ziihera for certain adults with previously treated, unresectable or metastatic biliary tract cancer.

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