Wellington Management Group LLP Has $3.21 Million Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Wellington Management Group LLP lowered its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,098 shares of the company's stock after selling 24,091 shares during the period. Wellington Management Group LLP owned 0.31% of Zymeworks worth $3,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZYME. Nuveen Asset Management LLC lifted its stake in shares of Zymeworks by 0.4% during the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after buying an additional 886 shares during the last quarter. Sterling Capital Management LLC increased its position in Zymeworks by 781.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after acquiring an additional 1,524 shares during the period. MetLife Investment Management LLC increased its position in Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock worth $497,000 after acquiring an additional 2,053 shares during the period. Teacher Retirement System of Texas raised its stake in Zymeworks by 19.2% in the 4th quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after purchasing an additional 2,216 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Zymeworks by 480.2% in the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after purchasing an additional 2,324 shares during the period. Institutional investors own 92.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZYME. Citigroup lifted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, March 7th. TD Securities initiated coverage on Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. TD Cowen assumed coverage on Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating on the stock. Lifesci Capital assumed coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price target for the company. Finally, HC Wainwright upped their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Zymeworks has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Zymeworks Trading Up 3.9%

NYSE ZYME traded up $0.47 during trading on Friday, hitting $12.60. 362,351 shares of the company's stock were exchanged, compared to its average volume of 586,854. The company has a market cap of $876.67 million, a PE ratio of -8.40 and a beta of 1.24. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The stock's 50 day moving average price is $11.59 and its two-hundred day moving average price is $13.02.

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

Insider Transactions at Zymeworks

In other Zymeworks news, Director Ecor1 Capital, Llc bought 468,356 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $12.48 per share, for a total transaction of $5,845,082.88. Following the transaction, the director now directly owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. This represents a 2.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have bought 1,405,768 shares of company stock worth $16,773,032. Insiders own 1.92% of the company's stock.

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.