Zymeworks Inc. (NYSE:ZYME) Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 266.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,165 shares of the company's stock after purchasing an additional 71,383 shares during the period. SG Americas Securities LLC owned 0.14% of Zymeworks worth $1,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in shares of Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after purchasing an additional 1,524 shares during the last quarter. AlphaQuest LLC raised its position in shares of Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after buying an additional 2,324 shares during the period. GAMMA Investing LLC raised its position in shares of Zymeworks by 1,113.3% in the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after buying an additional 5,934 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Zymeworks in the 4th quarter worth $108,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Zymeworks by 343.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after buying an additional 7,518 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Price Performance

NYSE:ZYME traded up $0.39 during mid-day trading on Wednesday, reaching $12.63. The stock had a trading volume of 526,375 shares, compared to its average volume of 581,681. The company has a market capitalization of $878.76 million, a price-to-earnings ratio of -8.42 and a beta of 1.18. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The stock's 50 day simple moving average is $11.90 and its two-hundred day simple moving average is $12.92.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping 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 business had revenue of $27.11 million during the quarter, compared to the consensus estimate of $20.65 million. During the same period last year, the firm earned ($0.42) earnings per share. The company's revenue for the quarter was up 170.3% compared to the same quarter last year. Sell-side analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZYME has been the topic of several research reports. HC Wainwright raised their price objective on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Monday, March 10th. TD Cowen initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Lifesci Capital initiated coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, TD Securities initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zymeworks has an average rating of "Moderate Buy" and an average price target of $21.00.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average cost of $11.16 per share, with a total value of $825,315.48. Following the completion of the acquisition, the director now directly owns 17,773,727 shares in the company, valued at approximately $198,354,793.32. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 502,139 shares of company stock worth $5,817,966 in the last 90 days. Corporate insiders own 1.92% of the company's stock.

Zymeworks 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.