Jane Street Group LLC reduced its stake in Zymeworks Inc. (NYSE:ZYME - Free Report) by 71.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new position in Zymeworks during the fourth quarter worth about $334,000. Northern Trust Corp lifted its holdings in Zymeworks by 6.4% during the fourth quarter. Northern Trust Corp now owns 394,830 shares of the company's stock worth $5,780,000 after acquiring an additional 23,903 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Zymeworks during the fourth quarter worth about $1,428,000. Voya Investment Management LLC lifted its holdings in Zymeworks by 207.7% during the fourth quarter. Voya Investment Management LLC now owns 59,514 shares of the company's stock worth $871,000 after acquiring an additional 40,172 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Zymeworks by 17.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,583 shares of the company's stock worth $316,000 after acquiring an additional 3,235 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors.
Zymeworks Trading Down 0.6%
Shares of Zymeworks stock traded down $0.07 during trading on Thursday, reaching $12.13. The stock had a trading volume of 263,727 shares, compared to its average volume of 587,752. The company has a market capitalization of $843.97 million, a price-to-earnings ratio of -8.09 and a beta of 1.24. The stock has a fifty day moving average price of $11.59 and a two-hundred day moving average price of $13.02. Zymeworks Inc. has a 52 week low of $8.21 and a 52 week high of $17.70.
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, beating analysts' consensus estimates of ($0.45) by $0.15. The company had revenue of $27.11 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 170.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) earnings per share. On average, equities analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.
Analyst Ratings Changes
ZYME has been the topic of several recent analyst reports. Citigroup lifted their target price on Zymeworks from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Lifesci Capital initiated coverage on Zymeworks in a report on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price on the stock. TD Cowen initiated coverage on Zymeworks in a report on Tuesday, May 20th. They set a "buy" rating on the stock. HC Wainwright lifted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Monday, March 10th. Finally, TD Securities initiated coverage on Zymeworks in a report on Tuesday, May 20th. They issued a "buy" rating on the stock. Two 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.
Read Our Latest Stock Report on ZYME
Insider Activity at Zymeworks
In related news, Director Ecor1 Capital, Llc bought 5,919 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were 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 now owns 17,883,908 shares in the company, valued at $210,672,436.24. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 1,405,768 shares of company stock valued at $16,773,032. 1.92% of the stock is owned by insiders.
About Zymeworks
(
Free Report)
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.
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