Zymeworks Inc. $ZYME Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has significantly increased its holdings in Zymeworks Inc., raising its stake by 184.2% to nearly 3.88 million shares, representing 5.58% ownership valued at approximately $46.21 million.
• Zymeworks recently reported an earnings per share (EPS) of $0.03 for the last quarter, surpassing analysts' expectations of ($0.52) and marking a revenue increase of 153.2% year-over-year.
• Analysts have mixed ratings on Zymeworks, with an average "Moderate Buy" rating and a consensus price target of $21.43, highlighting ongoing interest in the company's growth potential despite its recent stock downturn.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 184.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,879,945 shares of the company's stock after purchasing an additional 2,514,834 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 5.58% of Zymeworks worth $46,210,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position 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 acquiring an additional 1,300 shares during the period. Nuveen LLC acquired a new position in shares of Zymeworks in the 1st quarter valued at $2,368,000. Nuveen Asset Management LLC increased its position in shares of Zymeworks by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock valued at $3,031,000 after acquiring an additional 886 shares during the period. EcoR1 Capital LLC increased its position in shares of Zymeworks by 14.8% in the 1st quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company's stock valued at $205,561,000 after acquiring an additional 2,231,469 shares during the period. Finally, Vestal Point Capital LP increased its position in shares of Zymeworks by 170.3% in the 1st quarter. Vestal Point Capital LP now owns 500,000 shares of the company's stock valued at $5,955,000 after acquiring an additional 315,000 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Stock Down 3.6%

ZYME stock opened at $15.74 on Monday. The company's 50-day simple moving average is $13.92 and its 200-day simple moving average is $12.70. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $17.70. The firm has a market cap of $1.18 billion, a P/E ratio of -10.49 and a beta of 1.27.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.55. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $48.73 million for the quarter, compared to analyst estimates of $17.18 million. During the same period in the prior year, the company posted ($0.49) EPS. The company's revenue for the quarter was up 153.2% on a year-over-year basis. On average, analysts anticipate that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.

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