Man Group plc Invests $5.51 Million in Zymeworks Inc. $ZYME

Key Points

• Man Group plc purchased 210,779 Zymeworks shares worth approximately $5.51 million, representing about 0.30% of the company. Institutional investors collectively own 92.89% of Zymeworks.
• Analyst sentiment remains favorable, with nine Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $40 versus a recent price of $28.27.
• The FDA’s expanded approval of Ziihera for first-line HER2-positive advanced gastroesophageal cancer broadens Zymeworks’ commercial opportunity, though investors will watch prescription growth and launch execution. The company also authorized a $125 million share repurchase program.

Man Group plc purchased a new stake in shares of Zymeworks Inc. (NASDAQ:ZYME - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 210,779 shares of the company's stock, valued at approximately $5,510,000. Man Group plc owned approximately 0.30% of Zymeworks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZYME. Caitong International Asset Management Co. Ltd bought a new stake in Zymeworks during the fourth quarter valued at about $37,000. Quarry LP purchased a new position in shares of Zymeworks during the third quarter valued at approximately $50,000. Tower Research Capital LLC TRC grew its holdings 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 worth $62,000 after purchasing an additional 1,131 shares during the last quarter. State of Wyoming bought a new position in Zymeworks in the second quarter worth approximately $73,000. Finally, BNP Paribas Financial Markets increased its position in Zymeworks by 157.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company's stock valued at $129,000 after purchasing an additional 6,307 shares during the period. Institutional investors own 92.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZYME. Citizens Jmp reiterated a "market outperform" rating and set a $32.00 price objective on shares of Zymeworks in a research note on Wednesday. Stifel Nicolaus set a $46.00 target price on Zymeworks in a report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Zymeworks in a report on Friday, July 17th. HC Wainwright boosted their price objective on shares of Zymeworks from $51.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Truist Financial increased their price target on shares of Zymeworks from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Zymeworks presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

Zymeworks Stock Down 2.6%

NASDAQ ZYME opened at $28.27 on Friday. Zymeworks Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $30.62. The business has a fifty day moving average of $24.95 and a 200-day moving average of $24.84. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -14.00 and a beta of 1.15.

Zymeworks (NASDAQ:ZYME - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.06). Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The company had revenue of $3.23 million for the quarter, compared to analysts' expectations of $4.54 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm's quarterly revenue was down 90.6% on a year-over-year basis. As a group, analysts anticipate that Zymeworks Inc. will post 1.37 EPS for the current year.

Zymeworks declared that its board has initiated a share buyback program on Thursday, May 14th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Zymeworks News Summary

Here are the key news stories impacting Zymeworks this week:

• Positive Sentiment: The U.S. Food and Drug Administration approved Ziihera (zanidatamab-hrii), both with and without tislelizumab plus chemotherapy, for first-line treatment of HER2-positive advanced gastroesophageal adenocarcinoma. The expanded approval broadens Zymeworks’ commercial opportunity and could improve the long-term revenue outlook for its lead product. FDA approves Ziihera for first-line HER2-positive advanced gastroesophageal cancer
• Positive Sentiment: HC Wainwright maintained a Buy rating and a $55 price target while sharply raising its earnings outlook. Its FY2026 EPS estimate increased to $1.51 from $0.31, and its FY2027 estimate moved to $1.32 from a prior loss estimate of $1.72 per share. The firm also raised several quarterly forecasts, signaling greater confidence in Ziihera-related earnings potential. HC Wainwright raises Zymeworks earnings estimates
• Positive Sentiment: Citigroup reportedly forecast substantial price appreciation, while Citizens JMP assigned Zymeworks a market outperform rating. These calls add further analyst support following the FDA decision. Citigroup forecasts strong price appreciation for Zymeworks Citizens JMP rates Zymeworks market outperform
• Neutral Sentiment: The immediate catalyst is primarily regulatory and expectations-driven; investors will likely look for prescription growth, launch execution and evidence that the approval translates into sustainable revenue and earnings.

Zymeworks 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source