Zymeworks Inc. $ZYME Shares Bought by Trexquant Investment LP

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 position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 116.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,809 shares of the company's stock after buying an additional 118,813 shares during the quarter. Trexquant Investment LP owned 0.32% of Zymeworks worth $2,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in 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 purchasing an additional 2,106 shares in the last quarter. GAMMA Investing LLC grew its stake in Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock worth $77,000 after purchasing an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Zymeworks during the 4th quarter worth $108,000. Tower Research Capital LLC TRC grew its stake in Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after purchasing an additional 7,518 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in Zymeworks by 83.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company's stock worth $119,000 after purchasing an additional 4,559 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Trading Up 6.9%

Shares of Zymeworks stock traded up $0.97 on Friday, hitting $15.05. The stock had a trading volume of 627,107 shares, compared to its average volume of 528,693. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $17.70. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -10.03 and a beta of 1.27. The company's 50 day moving average price is $13.63 and its 200 day moving average price is $12.65.

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

Analyst Ratings Changes

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

About Zymeworks

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.