Tejara Capital Ltd Purchases 150,872 Shares of Zymeworks Inc. $ZYME

Key Points

• Tejara Capital Ltd significantly increased its holdings in Zymeworks Inc. by 391.5% during the first quarter, owning 189,409 shares valued at approximately $2.26 million.
• Analysts have set a price target for Zymeworks, with Citigroup raising it from $19.00 to $22.00 and several analysts issuing a "buy" rating, suggesting a strong market outlook.
• Zymeworks reported positive earnings, with an earnings per share of $0.03, significantly exceeding expectations and showcasing a 153.2% increase in revenue year-over-year.

Tejara Capital Ltd boosted its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 391.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189,409 shares of the company's stock after purchasing an additional 150,872 shares during the period. Tejara Capital Ltd owned 0.27% of Zymeworks worth $2,256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in shares of Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock valued at $25,000 after acquiring an additional 1,524 shares in the last quarter. CWM LLC grew its holdings in shares of Zymeworks by 1,091.2% during 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company's stock valued at $77,000 after acquiring an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Zymeworks during the 4th quarter valued at $108,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of 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 purchasing an additional 1,300 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZYME has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They issued a "buy" rating for the company. HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 price objective on shares of Zymeworks in a research note on Thursday, July 3rd. Citigroup boosted their target price on shares of Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, TD Securities initiated coverage on shares of Zymeworks in a research report on Tuesday, May 20th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.43.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 5,919 shares of the business's stock in a transaction dated Monday, May 19th. The stock was acquired at an average price of $11.78 per share, with a total value of $69,725.82. Following the completion of the transaction, the director owned 17,883,908 shares of the company's stock, valued at approximately $210,672,436.24. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.92% of the company's stock.

Zymeworks Stock Performance

Shares of ZYME traded up $0.06 during trading hours on Friday, reaching $14.36. 355,474 shares of the company traded hands, compared to its average volume of 535,590. The stock's fifty day moving average is $13.07 and its 200 day moving average is $12.63. The stock has a market cap of $1.08 billion, a P/E ratio of -9.57 and a beta of 1.26. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.55. The business had revenue of $48.73 million during the quarter, compared to analyst estimates 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 for the quarter was up 153.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

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.