Jacobs Levy Equity Management Inc. Sells 166,472 Shares of Zymeworks Inc. (NYSE:ZYME)

Jacobs Levy Equity Management Inc. reduced its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 31.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,168 shares of the company's stock after selling 166,472 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.52% of Zymeworks worth $5,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in Zymeworks by 6.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company's stock worth $214,000 after acquiring an additional 940 shares in the last quarter. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after acquiring an additional 1,524 shares in the last quarter. MetLife Investment Management LLC grew its position in Zymeworks by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company's stock worth $497,000 after acquiring an additional 2,053 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Zymeworks by 19.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company's stock worth $201,000 after buying an additional 2,216 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after buying an additional 2,324 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZYME. HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, March 10th. Lifesci Capital began coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 target price for the company. Finally, Citigroup upped their target price on shares of Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Trading Up 1.6%

Shares of NYSE ZYME traded up $0.18 during midday trading on Friday, reaching $11.71. The company's stock had a trading volume of 332,988 shares, compared to its average volume of 600,155. Zymeworks Inc. has a fifty-two week low of $8.21 and a fifty-two week high of $17.70. The stock has a market capitalization of $814.75 million, a price-to-earnings ratio of -7.81 and a beta of 1.24. The stock has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $13.39.

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 analysts' consensus estimates of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $27.11 million for the quarter, compared to the consensus estimate of $20.65 million. During the same period in the previous 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. As a group, equities analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 73,953 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average price of $11.16 per share, with a total value of $825,315.48. Following the completion of the acquisition, the director now owns 17,773,727 shares of the company's stock, valued at $198,354,793.32. The trade was a 0.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have acquired 1,350,347 shares of company stock worth $16,137,499. Corporate insiders own 1.92% of the company's stock.

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.