Point72 Asset Management L.P. Boosts Stock Position in Zymeworks Inc. (NYSE:ZYME)

Point72 Asset Management L.P. lifted its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 565.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 330,127 shares of the company's stock after purchasing an additional 280,544 shares during the quarter. Point72 Asset Management L.P. owned 0.48% of Zymeworks worth $4,833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZYME. Nuveen Asset Management LLC boosted its stake in Zymeworks by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after buying an additional 886 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Zymeworks by 6.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after buying an additional 940 shares during the period. Sterling Capital Management LLC boosted its stake in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after buying an additional 1,524 shares during the period. MetLife Investment Management LLC boosted its stake in Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock worth $497,000 after buying an additional 2,053 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Zymeworks by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after buying an additional 2,216 shares during the period. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Up 0.9%

Shares of ZYME opened at $11.82 on Tuesday. The firm has a market capitalization of $822.40 million, a P/E ratio of -7.88 and a beta of 1.24. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The firm has a fifty day moving average price of $11.81 and a 200-day moving average price of $13.37.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business's revenue was up 170.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.42) earnings per share. Analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc acquired 468,356 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the acquisition, the director now directly owns 16,802,141 shares of the company's stock, valued at $209,690,719.68. The trade was a 2.87% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought 1,405,768 shares of company stock worth $16,773,032 over the last three months. 1.92% of the stock is owned by corporate insiders.

Zymeworks Company 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.

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