Polar Asset Management Partners Inc. Purchases Shares of 36,000 Zymeworks Inc. (NYSE:ZYME)

Polar Asset Management Partners Inc. acquired a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,000 shares of the company's stock, valued at approximately $527,000. Polar Asset Management Partners Inc. owned approximately 0.05% of Zymeworks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC raised its stake in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after buying an additional 127,595 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Zymeworks by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after buying an additional 311,107 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Zymeworks by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after buying an additional 2,053 shares during the last quarter. Rhumbline Advisers lifted its position in Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after acquiring an additional 15,920 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Zymeworks during the fourth quarter worth about $888,000. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 5,919 shares of the business's stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $11.78 per share, for a total transaction of $69,725.82. Following the acquisition, the director now owns 17,883,908 shares of the company's stock, valued at approximately $210,672,436.24. The trade was a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 1,405,768 shares of company stock valued at $16,773,032 over the last three months. 1.92% of the stock is currently owned by insiders.

Zymeworks Stock Down 3.9%

NYSE ZYME traded down $0.49 during mid-day trading on Wednesday, hitting $11.94. The stock had a trading volume of 423,175 shares, compared to its average volume of 600,043. The company has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $13.37. The company has a market cap of $830.75 million, a price-to-earnings ratio of -7.96 and a beta of 1.24. Zymeworks Inc. has a 52-week low of $8.21 and a 52-week high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating 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 firm had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. During the same period last year, the firm posted ($0.42) EPS. The firm's revenue for the quarter was up 170.3% on a year-over-year basis. As a group, equities analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZYME has been the topic of several research analyst reports. Lifesci Capital initiated coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target on the stock. TD Securities initiated coverage on shares of Zymeworks in a report on Tuesday. They issued a "buy" rating on the stock. HC Wainwright increased their price target 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. TD Cowen began coverage on shares of Zymeworks in a report on Tuesday. They issued a "buy" rating for the company. Finally, Citigroup raised their price target on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.00.

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.