Vestal Point Capital LP Trims Position in Zymeworks Inc. (NYSE:ZYME)

Vestal Point Capital LP reduced its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,000 shares of the company's stock after selling 430,000 shares during the period. Vestal Point Capital LP owned approximately 0.27% of Zymeworks worth $2,708,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ZYME. Sterling Capital Management LLC lifted its holdings in shares of Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after purchasing an additional 1,524 shares in the last quarter. AlphaQuest LLC lifted its stake in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock valued at $41,000 after acquiring an additional 2,324 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Zymeworks during the 4th quarter valued at $108,000. Tower Research Capital LLC TRC lifted its stake in Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock valued at $142,000 after acquiring an additional 7,518 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Zymeworks during the 4th quarter valued at $151,000. 92.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc acquired 4,397 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average price of $11.75 per share, with a total value of $51,664.75. Following the acquisition, the director now owns 17,259,548 shares in the company, valued at $202,799,689. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 1,405,768 shares of company stock valued at $16,773,032. 1.92% of the stock is owned by insiders.

Analyst Ratings Changes

ZYME has been the topic of several recent analyst reports. HC Wainwright raised their price objective on Zymeworks from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, March 10th. Citigroup raised their price objective on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. TD Securities initiated coverage on Zymeworks in a research note on Tuesday. They set a "buy" rating on the stock. Lifesci Capital initiated coverage on Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Finally, TD Cowen initiated coverage on Zymeworks in a research note on Tuesday. They set a "buy" rating on the stock. Two 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Price Performance

Shares of Zymeworks stock traded down $0.49 during trading hours on Wednesday, hitting $11.94. 423,175 shares of the company's stock traded hands, compared to its average volume of 600,043. Zymeworks Inc. has a 12-month low of $8.21 and a 12-month high of $17.70. The stock has a market capitalization of $830.75 million, a price-to-earnings ratio of -7.96 and a beta of 1.24. The company has a fifty day simple moving average of $11.80 and a 200-day simple moving average of $13.36.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.65 million. During the same period last year, the firm posted ($0.42) EPS. The business's revenue was up 170.3% compared to the same quarter last year. On average, analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current fiscal 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.