Segall Bryant & Hamill LLC Takes Position in Zymeworks Inc. $ZYME

Key Points

• Segall Bryant & Hamill LLC acquired 45,726 Zymeworks shares worth approximately $1.15 million, while other institutional investors also increased their positions. Institutional investors and hedge funds collectively own 92.89% of the company.
• Analyst sentiment is broadly positive: Zymeworks has a “Moderate Buy” consensus rating and an average price target of $37.89, with several firms recently raising their targets. However, Weiss Ratings maintained a sell rating.
• Zymeworks shares recently traded at $23.50, while the company reported a quarterly loss of $0.59 per share and $2.41 million in revenue. Its board also authorized a $125 million share-repurchase program, allowing buybacks of up to 7% of outstanding shares.

Segall Bryant & Hamill LLC acquired a new stake in Zymeworks Inc. (NASDAQ:ZYME - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 45,726 shares of the company's stock, valued at approximately $1,145,000. Segall Bryant & Hamill LLC owned 0.06% of Zymeworks as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Zymeworks by 86.0% in the first quarter. AQR Capital Management LLC now owns 48,485 shares of the company's stock valued at $577,000 after buying an additional 22,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company's stock worth $386,000 after acquiring an additional 1,427 shares during the period. Jane Street Group LLC raised its holdings in shares of Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company's stock worth $1,617,000 after acquiring an additional 112,636 shares during the period. Creative Planning lifted its position in Zymeworks by 114.8% in the 2nd quarter. Creative Planning now owns 25,389 shares of the company's stock valued at $319,000 after acquiring an additional 13,567 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Zymeworks by 1,050.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 441,690 shares of the company's stock worth $5,543,000 after purchasing an additional 403,281 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZYME shares. Citigroup reaffirmed a "buy" rating on shares of Zymeworks in a research report on Tuesday, June 30th. HC Wainwright boosted their target price on Zymeworks from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial boosted their target price on Zymeworks from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their price target on shares of Zymeworks from $34.00 to $37.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Zymeworks in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.89.

Zymeworks Trading Up 3.1%

Shares of NASDAQ ZYME opened at $23.50 on Thursday. The company has a market capitalization of $1.72 billion, a P/E ratio of -17.15 and a beta of 1.15. Zymeworks Inc. has a 12 month low of $11.51 and a 12 month high of $29.75. The stock has a 50 day moving average of $24.07 and a 200-day moving average of $24.46.

Zymeworks (NASDAQ:ZYME - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share for the quarter. Zymeworks had a negative net margin of 126.92% and a negative return on equity of 37.97%. The business had revenue of $2.41 million during the quarter. Analysts predict that Zymeworks Inc. will post 1.36 EPS for the current fiscal year.

Zymeworks announced that its Board of Directors has approved a stock repurchase program on Thursday, May 14th that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Zymeworks Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks' innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.

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