Tema Etfs LLC Purchases Shares of 33,001 Zymeworks Inc. $ZYME

Key Points

• Tema Etfs LLC has purchased 33,001 shares of Zymeworks Inc., valued at approximately $393,000, marking a new investment in the company.
• Several hedge funds have significantly increased their stakes in Zymeworks, with CWM LLC and GAMMA Investing LLC boosting their holdings by over 1,000% in the first quarter.
• Zymeworks Inc. reported a substantial revenue increase of 153.2% year-over-year for the last quarter, beating consensus estimates with $48.73 million in revenue.

Tema Etfs LLC purchased a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,001 shares of the company's stock, valued at approximately $393,000.

Several other large investors also recently added to or reduced their stakes in ZYME. CWM LLC boosted its holdings in shares of 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 buying an additional 2,106 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Zymeworks by 1,113.3% during the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $77,000 after acquiring an additional 5,934 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Zymeworks in the fourth quarter valued at approximately $108,000. Northwest & Ethical Investments L.P. raised its position in Zymeworks by 83.3% in the 1st 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 during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake 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 worth $138,000 after acquiring an additional 1,300 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ZYME. HC Wainwright reiterated a "neutral" rating and set a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. TD Securities started coverage on shares of Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating for the company. Citigroup boosted their price objective on shares of Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, TD Cowen assumed coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating for the company. One research 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. Based on data from MarketBeat, Zymeworks currently has a consensus rating of "Moderate Buy" and an average price target of $21.43.

Zymeworks Stock Performance

Zymeworks stock traded up $0.05 during mid-day trading on Wednesday, reaching $14.06. The stock had a trading volume of 133,360 shares, compared to its average volume of 525,059. Zymeworks Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $17.70. The stock's 50-day simple moving average is $13.52 and its 200-day simple moving average is $12.66. The firm has a market capitalization of $1.06 billion, a PE ratio of -9.37 and a beta of 1.26.

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

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.