Voya Investment Management LLC Sells 43,861 Shares of Zymeworks Inc. $ZYME

Key Points

• Voya Investment Management LLC reduced its stake in Zymeworks Inc. by 73.7%, selling 43,861 shares and now holding 15,653 shares worth approximately $186,000.
• Institutional investors hold a significant majority of Zymeworks stock, owning 92.89% of the company, indicating strong interest from large funds.
• Zymeworks recently reported a 153.2% increase in revenue year-over-year, posting $48.73 million for the quarter, along with an unexpectedly positive EPS of $0.03.

Voya Investment Management LLC lessened its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 73.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,653 shares of the company's stock after selling 43,861 shares during the period. Voya Investment Management LLC's holdings in Zymeworks were worth $186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. EcoR1 Capital LLC grew its holdings in Zymeworks by 14.8% during the 1st quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company's stock worth $205,561,000 after acquiring an additional 2,231,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Zymeworks by 184.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company's stock worth $46,210,000 after acquiring an additional 2,514,834 shares during the period. Deutsche Bank AG grew its holdings in Zymeworks by 0.4% during the 1st quarter. Deutsche Bank AG now owns 1,552,612 shares of the company's stock worth $18,492,000 after acquiring an additional 5,840 shares during the period. Bridgeway Capital Management LLC grew its holdings in Zymeworks by 1.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 766,944 shares of the company's stock worth $9,134,000 after acquiring an additional 7,291 shares during the period. Finally, Vestal Point Capital LP grew its holdings in Zymeworks by 170.3% during the 1st quarter. Vestal Point Capital LP now owns 500,000 shares of the company's stock worth $5,955,000 after acquiring an additional 315,000 shares during the period. Institutional investors and hedge funds own 92.89% of the company's stock.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $17.08 on Wednesday. The company's 50-day moving average price is $14.58 and its two-hundred day moving average price is $13.03. Zymeworks Inc. has a one year low of $9.03 and a one year high of $17.70. The stock has a market capitalization of $1.28 billion, a PE ratio of -11.39 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $17.18 million. During the same period in the previous year, the firm posted ($0.49) EPS. The company's revenue for the quarter was up 153.2% on a year-over-year basis. On average, analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup lifted their target price on shares of Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, August 11th. HC Wainwright reissued a "neutral" rating and issued a $13.00 price target on shares of Zymeworks in a report on Thursday, July 3rd. One investment 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 currently has an average rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding ZYME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zymeworks Inc. (NYSE:ZYME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.