Northern Trust Corp Acquires 23,903 Shares of Zymeworks Inc. (NYSE:ZYME)

Northern Trust Corp increased its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 394,830 shares of the company's stock after acquiring an additional 23,903 shares during the quarter. Northern Trust Corp owned approximately 0.57% of Zymeworks worth $5,780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in shares of Zymeworks during the fourth quarter worth about $6,629,000. Schroder Investment Management Group purchased a new position in shares of Zymeworks during the 4th quarter valued at approximately $4,892,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Zymeworks during the fourth quarter worth approximately $3,368,000. Norges Bank bought a new stake in shares of Zymeworks in the fourth quarter worth $2,953,000. Finally, Barclays PLC raised its holdings in Zymeworks by 476.3% in the third quarter. Barclays PLC now owns 154,384 shares of the company's stock valued at $1,937,000 after acquiring an additional 127,595 shares in the last quarter. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Price Performance

NYSE:ZYME traded up $0.06 during midday trading on Monday, reaching $11.54. The stock had a trading volume of 349,420 shares, compared to its average volume of 600,617. The stock has a market capitalization of $802.92 million, a P/E ratio of -7.69 and a beta of 1.24. Zymeworks Inc. has a 1-year low of $8.21 and a 1-year high of $17.70. The firm's fifty day simple moving average is $11.73 and its 200-day simple moving average is $13.24.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. The company had revenue of $27.11 million for the quarter, compared to the consensus estimate of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company's revenue for the quarter was up 170.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) EPS. On average, equities research analysts anticipate 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 purchased 73,953 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired at an average cost of $11.16 per share, with a total value of $825,315.48. Following the completion of the acquisition, the director now directly owns 17,773,727 shares of the company's stock, valued at $198,354,793.32. This represents a 0.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 1,405,768 shares of company stock valued at $16,773,032. Corporate insiders own 1.92% of the company's stock.

Analyst Upgrades and Downgrades

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

Zymeworks 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.