Rhumbline Advisers Has $985,000 Holdings in Zymeworks Inc. (NYSE:ZYME)

Rhumbline Advisers lowered its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,738 shares of the company's stock after selling 21,138 shares during the quarter. Rhumbline Advisers owned 0.12% of Zymeworks worth $985,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ZYME. GAMMA Investing LLC boosted its stake in Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after buying an additional 5,934 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in Zymeworks during the 4th quarter worth approximately $527,000. Voloridge Investment Management LLC bought a new stake in shares of Zymeworks in the 4th quarter valued at approximately $640,000. Point72 Asset Management L.P. boosted its position in Zymeworks by 565.8% during the 4th quarter. Point72 Asset Management L.P. now owns 330,127 shares of the company's stock valued at $4,833,000 after purchasing an additional 280,544 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in 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 purchasing an additional 886 shares during the period. Hedge funds and other institutional investors own 92.89% of the company's stock.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc purchased 73,953 shares of Zymeworks stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average cost of $11.16 per share, for a total transaction of $825,315.48. Following the transaction, the director now directly owns 17,773,727 shares of the company's stock, valued at approximately $198,354,793.32. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders purchased 448,417 shares of company stock valued at $5,124,592. Corporate insiders own 1.92% of the company's stock.

Wall Street Analyst Weigh In

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

Zymeworks Stock Performance

NYSE:ZYME traded down $0.01 during trading hours on Monday, hitting $12.47. 384,819 shares of the company's stock traded hands, compared to its average volume of 583,123. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The stock's fifty day moving average price is $12.08 and its two-hundred day moving average price is $12.87. The firm has a market cap of $867.63 million, a P/E ratio of -8.31 and a beta of 1.17.

Zymeworks (NYSE:ZYME - Get Free Report) last announced 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 return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. During the same quarter in the prior year, the company earned ($0.42) EPS. The firm's revenue for the quarter was up 170.3% compared to the same quarter last year. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

About Zymeworks

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.