Ritholtz Wealth Management Has $317,000 Stake in Zymeworks Inc. $ZYME

Key Points

• Ritholtz Wealth Management reduced its stake in Zymeworks Inc. by 58.3% in Q2, holding 25,235 shares valued at $317,000 after selling over 35,000 shares.
• Several institutional investors, including CWM LLC and GAMMA Investing LLC, significantly increased their stakes in Zymeworks, showing growing institutional interest.
• Analysts are optimistic about Zymeworks' future, with price targets raised by firms like JPMorgan Chase and Citigroup, reflecting a consensus rating of "Buy" and an average target price of $24.75.

Ritholtz Wealth Management trimmed its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 58.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,235 shares of the company's stock after selling 35,259 shares during the period. Ritholtz Wealth Management's holdings in Zymeworks were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company's stock valued at $27,000 after purchasing an additional 2,106 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $77,000 after purchasing an additional 5,934 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of Zymeworks by 83.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock valued at $119,000 after purchasing an additional 4,559 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Zymeworks by 12.7% in the first quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Zymeworks in the first quarter valued at about $148,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ZYME shares. JPMorgan Chase & Co. boosted their price target on Zymeworks from $20.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Citigroup boosted 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. B. Riley assumed coverage on Zymeworks in a report on Friday, October 10th. They issued a "buy" rating and a $30.00 price target on the stock. Finally, HC Wainwright set a $26.00 target price on Zymeworks and gave the stock a "buy" rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $24.75.

Zymeworks Stock Performance

ZYME opened at $18.32 on Tuesday. The business's 50-day simple moving average is $15.88 and its 200 day simple moving average is $13.55. The firm has a market capitalization of $1.38 billion, a PE ratio of -12.21 and a beta of 1.51. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $19.50.

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

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