Tema Etfs LLC Makes New Investment in 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 acquired a new position in Zymeworks Inc. (NYSE:ZYME - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,001 shares of the company's stock, valued at approximately $393,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company's stock worth $27,000 after acquiring an additional 2,106 shares during the period. GAMMA Investing LLC grew its position in Zymeworks by 1,113.3% in the first quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after acquiring an additional 5,934 shares during the period. BNP Paribas Financial Markets purchased a new position in Zymeworks in the fourth quarter worth approximately $108,000. Northwest & Ethical Investments L.P. grew its position in Zymeworks by 83.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock worth $119,000 after acquiring an additional 4,559 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Zymeworks by 12.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock worth $138,000 after buying an additional 1,300 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Price Performance

Shares of NYSE ZYME traded down $0.03 during mid-day trading on Monday, hitting $14.81. The company had a trading volume of 314,217 shares, compared to its average volume of 526,977. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $17.70. The company has a market capitalization of $1.11 billion, a PE ratio of -9.87 and a beta of 1.26. The business's 50-day simple moving average is $13.45 and its 200 day simple moving average is $12.65.

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

Analyst Ratings Changes

ZYME has been the subject of several research analyst reports. Citigroup raised their price target on Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. TD Securities initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. TD Cowen initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. Finally, HC Wainwright restated a "neutral" rating and set a $13.00 price target on shares of Zymeworks in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Zymeworks has an average rating of "Moderate Buy" and a consensus target price of $21.43.

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.