Voloridge Investment Management LLC Takes $640,000 Position in Zymeworks Inc. (NYSE:ZYME)

Voloridge Investment Management LLC acquired a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 43,708 shares of the company's stock, valued at approximately $640,000. Voloridge Investment Management LLC owned approximately 0.06% of Zymeworks at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after purchasing an additional 1,524 shares in the last quarter. AlphaQuest LLC lifted its stake in Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Zymeworks in the 4th quarter valued at about $108,000. Tower Research Capital LLC TRC increased its stake in shares of 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 during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Zymeworks in the 4th quarter valued at about $151,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Zymeworks Price Performance

NYSE:ZYME traded up $0.44 during trading hours on Tuesday, hitting $12.08. The company's stock had a trading volume of 318,882 shares, compared to its average volume of 589,944. The stock has a fifty day simple moving average of $11.59 and a 200-day simple moving average of $13.05. The company has a market capitalization of $840.49 million, a P/E ratio of -8.05 and a beta of 1.24. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.15. The business 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%. Zymeworks's quarterly revenue was up 170.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.42) earnings per share. On average, equities analysts predict that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Insider Activity

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 468,356 shares of the company's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the purchase, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This represents a 2.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have bought 1,405,768 shares of company stock valued at $16,773,032. 1.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Securities initiated coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating on the stock. Lifesci Capital initiated coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Citigroup raised their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. TD Cowen assumed coverage on Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating on the stock. Finally, HC Wainwright increased their price objective on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, March 10th. Two 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 stock. According to data from MarketBeat.com, Zymeworks currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

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.