Zymeworks Inc. $ZYME Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Zymeworks Inc. by 20.3%, selling 21,138 shares in the 1st quarter, leaving it with 82,738 shares worth approximately $985,000.
• Analysts have a consensus rating of "Moderate Buy" for Zymeworks, with a price target averaging $21.43 and a variety of ratings from "Strong Buy" to "Hold".
• Despite a 1.5% decrease in share price recently, Zymeworks reported a revenue increase of 153.2% year-over-year, surpassing analysts' expectations by earning $0.03 per share in its latest quarter.

Rhumbline Advisers reduced its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,738 shares of the company's stock after selling 21,138 shares during the quarter. Rhumbline Advisers owned about 0.12% of Zymeworks worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in Zymeworks by 1,091.2% during the 1st quarter. CWM LLC now owns 2,299 shares of the company's stock worth $27,000 after purchasing an additional 2,106 shares during the period. GAMMA Investing LLC increased its holdings in Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after purchasing an additional 5,934 shares during the period. BNP Paribas Financial Markets purchased a new position in Zymeworks during the 4th quarter worth $108,000. Northwest & Ethical Investments L.P. increased its holdings in Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock worth $119,000 after purchasing an additional 4,559 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Zymeworks by 12.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after acquiring an additional 1,300 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZYME has been the topic of a number of analyst reports. HC Wainwright reiterated a "neutral" rating and issued a $13.00 price target on shares of Zymeworks in a report on Thursday, July 3rd. Citigroup lifted their price target on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.43.

Zymeworks Stock Down 0.7%

Shares of ZYME stock traded down $0.11 on Tuesday, hitting $16.42. The company had a trading volume of 169,268 shares, compared to its average volume of 530,695. The company has a 50-day moving average price of $14.26 and a 200-day moving average price of $12.84. Zymeworks Inc. has a twelve month low of $9.03 and a twelve month high of $17.70. The firm has a market cap of $1.23 billion, a P/E ratio of -10.93 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The business had revenue of $48.73 million during the quarter, compared to analysts' expectations of $17.18 million. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. The business's revenue was up 153.2% compared to the same quarter last year. Equities research analysts expect that Zymeworks Inc. will post -1.39 EPS for the current year.

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.