Duncan Williams Asset Management LLC Purchases New Shares in Zymeworks Inc. (NYSE:ZYME)

Duncan Williams Asset Management LLC purchased a new position in Zymeworks Inc. (NYSE:ZYME - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,095 shares of the company's stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its holdings in shares of Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after buying an additional 886 shares in the last quarter. MetLife Investment Management LLC raised its stake in Zymeworks by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after purchasing an additional 2,053 shares in the last quarter. SG Americas Securities LLC raised its stake in Zymeworks by 266.5% in the first quarter. SG Americas Securities LLC now owns 98,165 shares of the company's stock valued at $1,169,000 after purchasing an additional 71,383 shares in the last quarter. Rhumbline Advisers raised its stake in Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after purchasing an additional 15,920 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Zymeworks in the fourth quarter valued at approximately $888,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Down 1.2%

Shares of ZYME stock traded down $0.15 during trading hours on Friday, hitting $12.48. 823,051 shares of the company's stock were exchanged, compared to its average volume of 583,920. The company has a market capitalization of $868.32 million, a PE ratio of -8.32 and a beta of 1.18. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The business's 50 day simple moving average is $12.05 and its 200-day simple moving average is $12.89.

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

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were bought at an average cost of $11.16 per share, with a total value of $825,315.48. Following the completion of the purchase, the director now directly owns 17,773,727 shares in the company, valued at $198,354,793.32. This represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 471,106 shares of company stock valued at $5,421,364 over the last three months. 1.92% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ZYME shares. HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Citigroup raised their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. TD Securities started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, 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 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.

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.