Nuveen LLC Invests $2.37 Million in Zymeworks Inc. $ZYME

Key Points

• Nuveen LLC acquired 198,812 shares of Zymeworks Inc., valued at approximately $2.37 million, representing about 0.29% of the company's total shares.
• Zymeworks reported a 153.2% year-over-year increase in revenue, achieving $48.73 million for the quarter, and beating analysts' expectations.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of $21.43, as analyzed by multiple research firms.

Nuveen LLC bought a new position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 198,812 shares of the company's stock, valued at approximately $2,368,000. Nuveen LLC owned 0.29% of Zymeworks at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its position in Zymeworks by 12.7% in the first quarter. Invesco Ltd. now owns 78,206 shares of the company's stock worth $931,000 after purchasing an additional 8,824 shares during the period. Deutsche Bank AG lifted its position in Zymeworks by 0.4% in the first quarter. Deutsche Bank AG now owns 1,552,612 shares of the company's stock worth $18,492,000 after purchasing an additional 5,840 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Zymeworks by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 133,639 shares of the company's stock worth $1,592,000 after purchasing an additional 2,333 shares during the period. Picton Mahoney Asset Management lifted its position in Zymeworks by 0.7% in the first quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company's stock worth $2,477,000 after purchasing an additional 1,460 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Zymeworks by 25.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,531 shares of the company's stock worth $292,000 after purchasing an additional 4,920 shares during the period. Institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

Shares of NYSE ZYME traded down $0.03 during midday trading on Monday, reaching $14.81. 314,217 shares of the stock were exchanged, compared to its average volume of 526,977. The business has a 50-day simple moving average of $13.50 and a two-hundred day simple moving average of $12.65. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -9.87 and a beta of 1.26. Zymeworks Inc. has a 12 month low of $9.03 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (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 company had revenue of $48.73 million during the quarter, compared to the consensus estimate of $17.18 million. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. The firm's 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

A number of analysts have weighed in on ZYME shares. TD Securities started coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. TD Cowen started coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Citigroup upped their price target on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $13.00 price objective 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 issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Zymeworks has a consensus rating of "Moderate Buy" and an average target price of $21.43.

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.