Deutsche Bank AG Buys Shares of 397,190 Zymeworks Inc. $ZYME

Key Points

• Deutsche Bank acquired 397,190 Zymeworks shares worth approximately $10.4 million, giving it a 0.54% stake. Institutional investors collectively own 92.89% of the company.
• Zymeworks reported a quarterly loss of $0.62 per share and revenue of $3.23 million, missing analyst estimates; revenue fell 90.6% year over year.
• The company authorized a $125 million share-repurchase program, while analysts maintain a “Moderate Buy” consensus with an average price target of $40.75 versus shares trading near $28.67.

Deutsche Bank AG purchased a new stake in Zymeworks Inc. (NASDAQ:ZYME - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 397,190 shares of the company's stock, valued at approximately $10,383,000. Deutsche Bank AG owned approximately 0.54% of Zymeworks as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ZYME. Janney Montgomery Scott LLC lifted its holdings in shares of Zymeworks by 3.8% in the first quarter. Janney Montgomery Scott LLC now owns 11,487 shares of the company's stock valued at $288,000 after purchasing an additional 420 shares in the last quarter. Tema ETFs LLC increased its stake in shares of Zymeworks by 0.7% during the 2nd quarter. Tema ETFs LLC now owns 105,615 shares of the company's stock worth $2,761,000 after purchasing an additional 684 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zymeworks by 25.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company's stock worth $96,000 after purchasing an additional 731 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Zymeworks by 10.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,507 shares of the company's stock valued at $221,000 after buying an additional 800 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Zymeworks by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 58,350 shares of the company's stock valued at $1,536,000 after buying an additional 902 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Price Performance

Shares of NASDAQ ZYME opened at $28.67 on Monday. The business has a 50 day moving average price of $24.39 and a two-hundred day moving average price of $24.65. Zymeworks Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $29.75. The firm has a market cap of $2.03 billion, a PE ratio of -14.19 and a beta of 1.15.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.06). Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The company had revenue of $3.23 million for the quarter, compared to the consensus estimate of $4.54 million. During the same quarter last year, the company earned $0.03 earnings per share. The company's revenue was down 90.6% compared to the same quarter last year. On average, analysts anticipate that Zymeworks Inc. will post 1.25 earnings per share for the current year.

Zymeworks declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to buy up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZYME. Weiss Ratings restated a "sell (d-)" rating on shares of Zymeworks in a research report on Friday, July 17th. Truist Financial boosted their target price on Zymeworks from $31.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Stifel Nicolaus set a $46.00 price objective on shares of Zymeworks in a research note on Friday, August 7th. B. Riley Financial restated a "buy" rating and set a $44.00 target price (up from $40.00) on shares of Zymeworks in a report on Monday, August 10th. Finally, Citigroup reissued a "buy" rating on shares of Zymeworks in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.75.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks' innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.

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