Voloridge Investment Management LLC Purchases Shares of 43,708 Zymeworks Inc. (NYSE:ZYME)

Voloridge Investment Management LLC bought a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 43,708 shares of the company's stock, valued at approximately $640,000. Voloridge Investment Management LLC owned approximately 0.06% of Zymeworks as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after purchasing an additional 127,595 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Zymeworks by 30.4% in the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company's stock valued at $392,000 after buying an additional 6,239 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after buying an additional 940 shares in the last quarter. Empowered Funds LLC grew its holdings in Zymeworks by 5.1% during the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock worth $5,164,000 after acquiring an additional 17,092 shares during the period. Finally, Rhumbline Advisers raised its position in Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock worth $1,521,000 after acquiring an additional 15,920 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Price Performance

ZYME traded up $0.32 during midday trading on Friday, reaching $11.67. 504,342 shares of the company's stock were exchanged, compared to its average volume of 598,843. The business's 50-day moving average price is $11.61 and its 200 day moving average price is $13.13. The stock has a market capitalization of $811.96 million, a PE ratio of -7.78 and a beta of 1.24. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company's quarterly revenue was up 170.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) EPS. As a group, analysts expect that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Ecor1 Capital, Llc bought 4,397 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $11.75 per share, with a total value of $51,664.75. Following the purchase, the director now owns 17,259,548 shares of the company's stock, valued at $202,799,689. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 1,405,768 shares of company stock worth $16,773,032 over the last three months. 1.92% of the stock is currently owned by corporate insiders.

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.