Zymeworks Inc. $ZYME Stock Holdings Lifted 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% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in Zymeworks by 12.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company's stock valued at $138,000 after purchasing an additional 1,300 shares during the last quarter. Nuveen LLC purchased a new position in Zymeworks in the first quarter worth about $2,368,000. Nuveen Asset Management LLC grew its position in Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company's stock worth $3,031,000 after acquiring an additional 886 shares in the last quarter. EcoR1 Capital LLC boosted its position in shares of Zymeworks by 14.8% during the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company's stock valued at $205,561,000 after buying an additional 2,231,469 shares during the period. Finally, Vestal Point Capital LP raised its stake in shares of Zymeworks by 170.3% during the first 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 in the last quarter. Hedge funds and other institutional investors own 92.89% of the company's stock.

Zymeworks Stock Performance

ZYME traded down $0.24 on Friday, hitting $16.25. 1,012,844 shares of the company were exchanged, compared to its average volume of 530,780. The business's fifty day moving average is $14.19 and its 200 day moving average is $12.81. Zymeworks Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $17.70. The firm has a market capitalization of $1.22 billion, a P/E ratio of -10.83 and a beta of 1.27.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ZYME shares. Citigroup upped their price target on Zymeworks from $19.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. HC Wainwright reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Zymeworks in a research note on Thursday, July 3rd. One investment 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.43.

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.