Trexquant Investment LP Acquires 118,813 Shares of Zymeworks Inc. $ZYME

Key Points

• Trexquant Investment LP increased its stake in Zymeworks Inc. by 116.5% in Q1, owning approximately $2.63 million worth of shares after purchasing additional stock during the quarter.
• Zymeworks reported $0.03 EPS for the latest quarter, exceeding expectations significantly while achieving a revenue increase of 153.2% year-over-year.
• Analysts currently rate Zymeworks shares as Moderate Buy with an average price target of $21.43, indicating potential for growth.

Trexquant Investment LP grew its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 116.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,809 shares of the company's stock after buying an additional 118,813 shares during the quarter. Trexquant Investment LP owned approximately 0.32% of Zymeworks worth $2,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Zymeworks by 1,091.2% during the first quarter. CWM LLC now owns 2,299 shares of the company's stock worth $27,000 after purchasing an additional 2,106 shares during the period. GAMMA Investing LLC lifted its holdings in 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 buying an additional 5,934 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Zymeworks during the fourth quarter valued at about $108,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Zymeworks by 83.3% during 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 during the period. Finally, Janney Montgomery Scott LLC raised its holdings 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 valued at $138,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

ZYME has been the subject of several recent research reports. Citigroup boosted their target price on shares of 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 shares of Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating for the company. TD Cowen initiated coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating for the company. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 price objective 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.43.

Zymeworks Price Performance

Shares of Zymeworks stock traded down $0.08 on Tuesday, reaching $15.11. 71,544 shares of the company traded hands, compared to its average volume of 525,818. Zymeworks Inc. has a 52 week low of $9.03 and a 52 week high of $17.70. The company has a 50 day moving average of $13.69 and a 200 day moving average of $12.64. The firm has a market capitalization of $1.14 billion, a PE ratio of -10.07 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last released its 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 net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $48.73 million during the quarter, compared to the consensus estimate of $17.18 million. During the same period in the prior year, the firm earned ($0.49) EPS. The company's revenue was up 153.2% compared to the same quarter last year. As a group, analysts anticipate 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.