Zymeworks Inc. (NYSE:ZYME) Shares Sold by Rhumbline Advisers

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

A number of other hedge funds have also made changes to their positions in ZYME. New York State Common Retirement Fund raised its holdings in shares of Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company's stock valued at $196,000 after acquiring an additional 4,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zymeworks in the fourth quarter valued at approximately $888,000. AlphaQuest LLC increased its holdings in shares of Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after purchasing an additional 2,324 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Zymeworks by 16.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,960 shares of the company's stock valued at $453,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new stake in shares of Zymeworks in the fourth quarter valued at approximately $564,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Zymeworks Stock Down 1.2%

Zymeworks stock traded down $0.15 during midday trading on Friday, reaching $12.48. The company's stock had a trading volume of 823,051 shares, compared to its average volume of 583,947. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The company has a market cap of $868.32 million, a P/E ratio of -8.32 and a beta of 1.18. The business has a 50-day simple moving average of $12.05 and a 200-day simple moving average of $12.90.

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

Insider Buying and Selling at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 43,848 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of $12.24 per share, for a total transaction of $536,699.52. Following the completion of the transaction, the director now owns 17,255,151 shares of the company's stock, valued at approximately $211,203,048.24. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 471,106 shares of company stock worth $5,421,364 over the last ninety days. Corporate insiders own 1.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZYME. Citigroup increased their price target on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 7th. TD Securities started coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target for the company. TD Cowen started coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. Finally, HC Wainwright raised 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. Two equities research 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.com, Zymeworks has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

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.