Zymeworks Inc. (NYSE:ZYME) Position Trimmed by Jane Street Group LLC

Jane Street Group LLC lowered its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 71.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,127 shares of the company's stock after selling 57,199 shares during the period. Jane Street Group LLC's holdings in Zymeworks were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its holdings in shares of 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 purchasing an additional 127,595 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Zymeworks by 30.4% during the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company's stock worth $392,000 after purchasing an additional 6,239 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock valued at $214,000 after buying an additional 940 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Zymeworks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock worth $5,164,000 after acquiring an additional 17,092 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Zymeworks by 18.1% in the fourth quarter. Rhumbline Advisers now owns 103,876 shares of the company's stock valued at $1,521,000 after acquiring an additional 15,920 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company's stock.

Zymeworks Stock Up 0.8%

Shares of ZYME traded up $0.10 during mid-day trading on Wednesday, hitting $12.18. The stock had a trading volume of 167,386 shares, compared to its average volume of 588,282. The company's fifty day simple moving average is $11.59 and its two-hundred day simple moving average is $13.05. The company has a market cap of $847.45 million, a PE ratio of -8.12 and a beta of 1.24. 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 issued its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $27.11 million for the quarter, compared to analyst estimates of $20.65 million. During the same period last year, the company earned ($0.42) earnings per share. The firm's revenue for the quarter was up 170.3% on a year-over-year basis. Equities analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc bought 468,356 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the transaction, the director now owns 16,802,141 shares in the company, valued at approximately $209,690,719.68. This trade represents a 2.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought a total of 1,405,768 shares of company stock valued at $16,773,032 in the last quarter. Company insiders own 1.92% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ZYME. TD Securities assumed coverage on Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating on the stock. Lifesci Capital initiated coverage on Zymeworks in a research report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price target for the company. Citigroup increased their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. HC Wainwright upped 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. Finally, TD Cowen initiated coverage on Zymeworks in a research note 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 given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Zymeworks presently has an average rating of "Moderate Buy" and an average price target of $21.00.

About Zymeworks

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.