Duncan Williams Asset Management LLC Takes Position in Zymeworks Inc. (NYSE:ZYME)

Duncan Williams Asset Management LLC purchased a new stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 made changes to their positions in the company. Sterling Capital Management LLC increased its position in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $77,000 after purchasing an additional 5,934 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Zymeworks in the 4th quarter worth approximately $108,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after buying an additional 7,518 shares during the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ecor1 Capital, Llc acquired 22,689 shares of the stock in a transaction dated Monday, March 24th. The shares were purchased at an average cost of $13.08 per share, with a total value of $296,772.12. Following the transaction, the director now directly owns 17,157,802 shares in the company, valued at approximately $224,424,050.16. This represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders bought 502,139 shares of company stock valued at $5,817,966. Insiders own 1.92% of the company's stock.

Zymeworks Stock Up 3.2%

Shares of NYSE ZYME traded up $0.39 during midday trading on Thursday, hitting $12.63. 526,375 shares of the company's stock were exchanged, compared to its average volume of 581,681. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70. The company's 50 day moving average price is $11.95 and its 200 day moving average price is $12.92. The firm has a market capitalization of $878.76 million, a PE ratio of -8.42 and a beta of 1.18.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. The company had revenue of $27.11 million for the quarter, compared to analyst estimates of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm's revenue for the quarter was up 170.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) EPS. On average, equities research analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ZYME. Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Citigroup increased 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 lifted their price objective on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. TD Cowen began coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, TD Securities started coverage on Zymeworks in a report 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Zymeworks has a consensus rating of "Moderate Buy" and an average 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.