EcoR1 Capital LLC Has $205.56 Million Stock Holdings in Zymeworks Inc. $ZYME

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 lifted its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 14.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,259,548 shares of the company's stock after acquiring an additional 2,231,469 shares during the quarter. Zymeworks makes up about 12.2% of EcoR1 Capital LLC's portfolio, making the stock its 3rd biggest holding. EcoR1 Capital LLC owned 24.81% of Zymeworks worth $205,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bridgeway Capital Management LLC boosted its stake in shares of Zymeworks by 1.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 766,944 shares of the company's stock worth $9,134,000 after acquiring an additional 7,291 shares during the period. AQR Capital Management LLC raised its holdings in Zymeworks by 86.0% in the 1st quarter. AQR Capital Management LLC now owns 48,485 shares of the company's stock valued at $577,000 after acquiring an additional 22,411 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in Zymeworks in the 1st quarter valued at $596,000. Vestal Point Capital LP raised its holdings in Zymeworks by 170.3% in the 1st quarter. Vestal Point Capital LP now owns 500,000 shares of the company's stock valued at $5,955,000 after acquiring an additional 315,000 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Zymeworks in the 1st quarter valued at $148,000. 92.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZYME has been the subject of several analyst reports. HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 price objective on shares of Zymeworks in a report on Thursday, July 3rd. TD Securities assumed coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating for the company. TD Cowen assumed coverage on Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating for the company. Finally, Citigroup boosted their price target on Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.43.

Zymeworks Stock Down 0.3%

Shares of NYSE ZYME traded down $0.05 during trading on Tuesday, reaching $15.15. The company had a trading volume of 190,742 shares, compared to its average volume of 526,550. Zymeworks Inc. has a 12 month low of $9.03 and a 12 month high of $17.70. The company's fifty day moving average price is $13.69 and its 200-day moving average price is $12.64. The stock has a market cap of $1.14 billion, a P/E ratio of -10.10 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company had revenue of $48.73 million for the quarter, compared to analyst estimates of $17.18 million. During the same quarter in the prior year, the company earned ($0.49) EPS. The firm's revenue for the quarter was up 153.2% compared to the same quarter last year. As a group, equities analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Zymeworks 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.