Kornitzer Capital Management Inc. KS Takes $2.34 Million Position in Zymeworks Inc. $ZYME

Key Points

• Kornitzer Capital Management bought a new stake of 88,800 shares in Zymeworks in Q4, valued at approximately $2.34 million, representing about 0.12% ownership.
• Zymeworks is a clinical-stage biopharma with negative recent results (EPS -$0.55 last quarter, negative net margin and ROE) and modest revenue ($2.52M), while the stock trades near $26.61 with a market cap of about $1.96B.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average target of $37.89, alongside several recent upgrades lifting price targets into the mid-$40s to high-$50s.

Kornitzer Capital Management Inc. KS bought a new stake in Zymeworks Inc. (NASDAQ:ZYME - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 88,800 shares of the company's stock, valued at approximately $2,338,000. Kornitzer Capital Management Inc. KS owned about 0.12% of Zymeworks at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Zymeworks by 0.3% in the third quarter. Federated Hermes Inc. now owns 182,847 shares of the company's stock valued at $3,123,000 after acquiring an additional 577 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Zymeworks by 25.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company's stock valued at $96,000 after acquiring an additional 731 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Zymeworks by 29.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company's stock valued at $62,000 after acquiring an additional 1,131 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Zymeworks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock valued at $386,000 after acquiring an additional 1,427 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of Zymeworks in the third quarter valued at approximately $26,000. Institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

ZYME stock opened at $26.61 on Friday. The company has a 50 day moving average price of $25.39 and a 200 day moving average price of $23.84. Zymeworks Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $29.75. The stock has a market capitalization of $1.96 billion, a PE ratio of -24.64 and a beta of 1.20.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported ($0.55) earnings per share for the quarter. Zymeworks had a negative return on equity of 26.00% and a negative net margin of 76.56%.The company had revenue of $2.52 million during the quarter. As a group, equities analysts expect that Zymeworks Inc. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZYME has been the subject of a number of research analyst reports. Truist Financial upgraded shares of Zymeworks to a "strong-buy" rating in a research note on Monday, April 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Zymeworks in a research report on Monday, April 20th. Leerink Partners boosted their price objective on shares of Zymeworks from $52.00 to $58.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Stifel Nicolaus boosted their price objective on shares of Zymeworks from $40.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Finally, HC Wainwright boosted their price objective on shares of Zymeworks from $32.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.89.

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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