Point72 Asset Management L.P. Buys 280,544 Shares of Zymeworks Inc. (NYSE:ZYME)

Point72 Asset Management L.P. grew its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 565.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,127 shares of the company's stock after purchasing an additional 280,544 shares during the period. Point72 Asset Management L.P. owned about 0.48% of Zymeworks worth $4,833,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ZYME. Polar Asset Management Partners Inc. acquired a new stake in shares of Zymeworks during the fourth quarter worth approximately $527,000. Nuveen Asset Management LLC grew its holdings in shares of Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after acquiring an additional 886 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Zymeworks by 1.2% in the fourth quarter. Deutsche Bank AG now owns 1,546,772 shares of the company's stock worth $22,645,000 after acquiring an additional 17,849 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Zymeworks by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock worth $11,121,000 after acquiring an additional 17,092 shares during the last quarter. Finally, Blackstone Inc. raised its holdings in shares of Zymeworks by 2,171.4% during the fourth quarter. Blackstone Inc. now owns 569,715 shares of the company's stock worth $8,341,000 after acquiring an additional 544,633 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 22,689 shares of the company's stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $13.08 per share, with a total value of $296,772.12. Following the transaction, the director now directly owns 17,157,802 shares in the company, valued at approximately $224,424,050.16. This represents a 0.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 1,405,768 shares of company stock valued at $16,773,032 in the last quarter. Insiders own 1.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZYME shares. Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 target price on the stock. HC Wainwright lifted their price target on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Monday, March 10th. Citigroup increased their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. TD Securities started coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating on the stock. Finally, TD Cowen began coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Trading Up 0.5%

Zymeworks stock traded up $0.06 during trading hours on Friday, reaching $11.54. 349,420 shares of the company were exchanged, compared to its average volume of 600,617. The firm has a market cap of $802.92 million, a price-to-earnings ratio of -7.69 and a beta of 1.24. The stock has a 50-day moving average of $11.76 and a 200 day moving average of $13.27. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. During the same period in the prior year, the firm earned ($0.42) EPS. Zymeworks's quarterly revenue was up 170.3% compared to the same quarter last year. As a group, research analysts forecast that Zymeworks Inc. will post -1.39 EPS 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.