Zymeworks Inc. $ZYME is EcoR1 Capital LLC's 3rd Largest Position

Key Points

• EcoR1 Capital LLC increased its ownership in Zymeworks Inc. by 14.8%, acquiring 2,231,469 shares, which makes Zymeworks 12.2% of its investment portfolio.
• Zymeworks reported a significant revenue increase of 153.2% year-over-year, with quarterly earnings surpassing estimates by $0.55.
• Analysts’ ratings for Zymeworks are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $21.43.

EcoR1 Capital LLC grew its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,259,548 shares of the company's stock after buying an additional 2,231,469 shares during the quarter. Zymeworks accounts for approximately 12.2% of EcoR1 Capital LLC's portfolio, making the stock its 3rd largest holding. EcoR1 Capital LLC owned about 24.81% of Zymeworks worth $205,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its stake in shares of Zymeworks by 1,091.2% during the first quarter. CWM LLC now owns 2,299 shares of the company's stock valued at $27,000 after buying an additional 2,106 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Zymeworks by 1,113.3% during the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $77,000 after buying an additional 5,934 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Zymeworks during the fourth quarter valued at about $108,000. Northwest & Ethical Investments L.P. grew its stake in shares of Zymeworks by 83.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock valued at $119,000 after buying an additional 4,559 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Zymeworks by 12.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after buying an additional 1,300 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Zymeworks Price Performance

ZYME traded up $0.97 on Friday, hitting $15.05. The company had a trading volume of 627,107 shares, compared to its average volume of 528,693. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $17.70. The stock has a fifty day simple moving average of $13.63 and a 200-day simple moving average of $12.65. The firm has a market capitalization of $1.13 billion, a P/E ratio of -10.03 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.52) by $0.55. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $48.73 million during the quarter, compared to analyst estimates of $17.18 million. During the same period last year, the business posted ($0.49) earnings per share. Zymeworks's quarterly revenue was up 153.2% compared to the same quarter last year. Equities research analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZYME has been the topic of a number of recent research reports. Citigroup raised their price objective on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, August 11th. TD Cowen began coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. TD Securities began coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Finally, HC Wainwright reissued a "neutral" rating and issued a $13.00 target price on shares of Zymeworks in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.43.

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.