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Walleye Capital LLC Decreases Stock Holdings in Zymeworks Inc. $ZYME

Zymeworks logo with Medical background

Key Points

  • Walleye Capital LLC has reduced its stake in Zymeworks Inc. by 45.2%, owning 247,959 shares valued at approximately $2.95 million as of its latest SEC filing.
  • Several institutional investors significantly increased their holdings in Zymeworks during the first quarter, with CWM LLC growing its position by over 1,000%.
  • Zymeworks reported a surprising profit of $0.03 EPS for the last quarter, exceeding expectations of a loss, and its revenue increased by 153.2% year-over-year.
  • Want stock alerts on Zymeworks? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Walleye Capital LLC lowered its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 247,959 shares of the company's stock after selling 204,845 shares during the quarter. Walleye Capital LLC owned 0.36% of Zymeworks worth $2,953,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Nuveen Asset Management LLC grew its position in Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after acquiring an additional 886 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Zymeworks by 12.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after acquiring an additional 1,300 shares during the last quarter. Picton Mahoney Asset Management grew its position in Zymeworks by 0.7% in the 1st quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company's stock valued at $2,477,000 after acquiring an additional 1,460 shares during the last quarter. MetLife Investment Management LLC grew its position in Zymeworks by 6.4% in the 4th 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 last quarter. Finally, CWM LLC grew its position in Zymeworks by 1,091.2% in the 1st quarter. CWM LLC now owns 2,299 shares of the company's stock valued at $27,000 after acquiring an additional 2,106 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ZYME. Citigroup upped their price objective on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, August 11th. TD Securities began coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 price objective on shares of Zymeworks in a research report on Thursday, July 3rd. Finally, TD Cowen initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They issued a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Zymeworks currently has an average rating of "Moderate Buy" and an average target price of $21.43.

View Our Latest Stock Analysis on ZYME

Zymeworks Price Performance

Shares of ZYME stock traded down $0.03 during mid-day trading on Friday, hitting $14.81. The stock had a trading volume of 314,217 shares, compared to its average volume of 526,977. Zymeworks Inc. has a 12-month low of $9.03 and a 12-month high of $17.70. The firm has a market capitalization of $1.11 billion, a P/E ratio of -9.87 and a beta of 1.26. The firm's 50-day moving average is $13.45 and its two-hundred day moving average is $12.66.

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

Zymeworks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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