UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 158,973 Shares of Zymeworks Inc. (NYSE:ZYME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,365,111 shares of the company's stock after selling 158,973 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.98% of Zymeworks worth $19,985,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ZYME. Barclays PLC grew its stake in Zymeworks by 476.3% in the 3rd quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after buying an additional 127,595 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock valued at $497,000 after acquiring an additional 2,053 shares during the period. Rhumbline Advisers grew its position in shares of Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after purchasing an additional 15,920 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zymeworks in the fourth quarter valued at about $888,000. Finally, Legal & General Group Plc increased its stake in shares of Zymeworks by 5.8% in the fourth quarter. Legal & General Group Plc now owns 47,082 shares of the company's stock worth $689,000 after purchasing an additional 2,590 shares during the period. Institutional investors own 92.89% of the company's stock.

Wall Street Analyst Weigh In

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

Zymeworks Stock Performance

Shares of NYSE:ZYME traded up $0.21 during midday trading on Monday, reaching $11.64. 298,998 shares of the company's stock were exchanged, compared to its average volume of 597,642. The company's 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $13.05. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70. The firm has a market capitalization of $809.88 million, a PE ratio of -7.76 and a beta of 1.24.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company's quarterly revenue was up 170.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. On average, research analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Insider Transactions at Zymeworks

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of $11.16 per share, with a total value of $825,315.48. Following the acquisition, the director now owns 17,773,727 shares in the company, valued at $198,354,793.32. This trade represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 1,405,768 shares of company stock valued at $16,773,032. Corporate insiders own 1.92% of the company's stock.

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.