Zymeworks Inc. (NYSE:ZYME) Shares Sold by Wellington Management Group LLP

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 disclosure with the Securities & Exchange Commission. The fund owned 219,098 shares of the company's stock after selling 24,091 shares during the quarter. Wellington Management Group LLP owned about 0.31% of Zymeworks worth $3,208,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in Zymeworks by 1.2% in the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company's stock valued at $22,645,000 after buying an additional 17,849 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Zymeworks by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company's stock valued at $14,240,000 after acquiring an additional 123,240 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Zymeworks by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock worth $11,121,000 after acquiring an additional 17,092 shares during the period. Blackstone Inc. raised its holdings in Zymeworks by 2,171.4% during the fourth quarter. Blackstone Inc. now owns 569,715 shares of the company's stock worth $8,341,000 after purchasing an additional 544,633 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Zymeworks during the fourth quarter worth about $6,629,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Zymeworks Stock Performance

ZYME stock traded up $0.47 during midday trading on Friday, hitting $12.60. 362,351 shares of the stock were exchanged, compared to its average volume of 587,875. The stock's 50-day moving average price is $11.61 and its 200-day moving average price is $12.99. The stock has a market cap of $876.67 million, a price-to-earnings ratio of -8.40 and a beta of 1.17. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings results 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. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 million. During the same quarter last year, the business posted ($0.42) earnings per share. The business's revenue for the quarter was up 170.3% on a year-over-year basis. Research analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 22,689 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $13.08 per share, for a total transaction of $296,772.12. Following the acquisition, the director now owns 17,157,802 shares in the company, valued at $224,424,050.16. This represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders acquired 1,405,768 shares of company stock worth $16,773,032. 1.92% of the stock is owned by corporate insiders.

Zymeworks Company 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.