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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in shares of Zymeworks by 487.0% in the first quarter. Jane Street Group LLC now owns 135,763 shares of the company's stock valued at $1,617,000 after purchasing an additional 112,636 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Zymeworks by 184.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company's stock worth $46,210,000 after buying an additional 2,514,834 shares in the last quarter. Empowered Funds LLC boosted its position in Zymeworks by 2.1% in the 1st quarter. Empowered Funds LLC now owns 360,044 shares of the company's stock valued at $4,288,000 after buying an additional 7,291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Zymeworks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock valued at $386,000 after buying an additional 1,427 shares during the period. Finally, EcoR1 Capital LLC grew its stake in shares of Zymeworks by 14.8% in the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company's stock worth $205,561,000 after acquiring an additional 2,231,469 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ZYME shares. Citigroup increased their price objective on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, August 11th. HC Wainwright restated a "neutral" rating and set a $13.00 price target on shares of Zymeworks in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.43.

Zymeworks Stock Performance

ZYME stock traded up $0.28 during midday trading on Monday, reaching $16.53. 901,866 shares of the company were exchanged, compared to its average volume of 531,358. The stock's 50-day simple moving average is $14.19 and its 200 day simple moving average is $12.81. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $17.70. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -11.02 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last posted 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 net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $48.73 million for the quarter, compared to the consensus estimate of $17.18 million. During the same period last year, the firm posted ($0.49) EPS. The company's revenue was up 153.2% on a year-over-year basis. On average, research analysts anticipate 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.