Wellington Management Group LLP Decreases Stock Holdings in Zymeworks Inc. $ZYME

Key Points

• Wellington Management Group LLP has reduced its stake in Zymeworks by 16.8%, selling 36,852 shares, leaving it with 182,246 shares worth approximately $2.17 million.
• Several hedge funds have recently increased their holdings in Zymeworks, with CWM LLC and GAMMA Investing LLC boosting their stakes by over 1,000% in the 1st quarter.
• Analysts are optimistic about Zymeworks, as evidenced by multiple buy ratings, with a consensus price target of $21.43.

Wellington Management Group LLP decreased its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 182,246 shares of the company's stock after selling 36,852 shares during the quarter. Wellington Management Group LLP owned 0.26% of Zymeworks worth $2,171,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its position in shares of 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 buying an additional 5,840 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Zymeworks by 14.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company's stock worth $14,240,000 after buying an additional 123,240 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Zymeworks by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock worth $11,121,000 after buying an additional 17,092 shares in the last quarter. Blackstone Inc. lifted its position in shares of Zymeworks by 2,171.4% during the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company's stock worth $8,341,000 after buying an additional 544,633 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Zymeworks by 6.4% during the 4th quarter. Northern Trust Corp now owns 394,830 shares of the company's stock worth $5,780,000 after buying an additional 23,903 shares in the last quarter. Institutional investors own 92.89% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ZYME. HC Wainwright reissued a "neutral" rating and set a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. Citigroup raised their price target on shares of Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. TD Cowen initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. Finally, TD Securities initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Zymeworks presently has a consensus rating of "Moderate Buy" and an average price target of $21.43.

Zymeworks Stock Down 5.4%

Shares of NYSE ZYME traded down $0.80 during mid-day trading on Tuesday, reaching $14.01. 562,515 shares of the company were exchanged, compared to its average volume of 527,191. Zymeworks Inc. has a 52 week low of $9.03 and a 52 week high of $17.70. The stock has a market capitalization of $1.05 billion, a PE ratio of -9.34 and a beta of 1.26. The company's 50 day moving average price is $13.52 and its 200 day moving average price is $12.66.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.55. The company had revenue of $48.73 million during the quarter, compared to the consensus estimate of $17.18 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm's revenue was up 153.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.49) EPS. On average, sell-side analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

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.