Tejara Capital Ltd Buys 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 grew its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 391.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,409 shares of the company's stock after purchasing an additional 150,872 shares during the period. Tejara Capital Ltd owned approximately 0.27% of Zymeworks worth $2,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in shares of Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after buying an additional 1,524 shares during the last quarter. CWM LLC boosted its holdings in shares of Zymeworks by 1,091.2% in the first 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 boosted its stake in 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 purchasing an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Zymeworks during the 4th quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Zymeworks by 343.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock worth $142,000 after buying an additional 7,518 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZYME has been the subject of several recent analyst reports. TD Securities assumed coverage on shares of Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating for the company. 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 reissued a "neutral" rating and set a $13.00 price objective on shares of Zymeworks in a research report on Thursday, July 3rd. Finally, Citigroup upped their price target on Zymeworks from $19.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $21.43.

Zymeworks Price Performance

Shares of Zymeworks stock traded up $0.22 on Wednesday, hitting $14.32. The company had a trading volume of 247,297 shares, compared to its average volume of 531,873. The firm has a market capitalization of $1.08 billion, a P/E ratio of -9.55 and a beta of 1.26. The stock has a 50-day moving average of $13.15 and a 200-day moving average of $12.65. Zymeworks Inc. has a twelve month low of $9.03 and a twelve month high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The firm had revenue of $48.73 million during the quarter, compared to the consensus estimate of $17.18 million. During the same quarter in the prior year, the firm posted ($0.49) EPS. The business's revenue was up 153.2% on a year-over-year basis. Equities 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.