Shares of Zymeworks Inc. (NYSE:ZYME - Get Free Report) fell 2.6% on Tuesday . The stock traded as low as $9.33 and last traded at $9.37. 35,497 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 559,521 shares. The stock had previously closed at $9.62.
Zymeworks Stock Performance
The firm has a market capitalization of $660.54 million, a price-to-earnings ratio of -5.38 and a beta of 1.14. The stock's fifty day moving average is $11.10 and its two-hundred day moving average is $9.44.
Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.19. Zymeworks had a negative return on equity of 26.20% and a negative net margin of 156.12%. The company had revenue of $16.93 million during the quarter, compared to the consensus estimate of $18.32 million. Sell-side analysts anticipate that Zymeworks Inc. will post -1.04 earnings per share for the current year.
Hedge Funds Weigh In On Zymeworks
Several institutional investors and hedge funds have recently made changes to their positions in ZYME. Wellington Management Group LLP lifted its position in shares of Zymeworks by 177.9% during the third quarter. Wellington Management Group LLP now owns 156,682 shares of the company's stock worth $993,000 after purchasing an additional 100,304 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Zymeworks by 742.4% during the 3rd quarter. Acadian Asset Management LLC now owns 825,988 shares of the company's stock worth $5,233,000 after buying an additional 727,934 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of Zymeworks in the 4th quarter worth approximately $329,000. Swiss National Bank increased its holdings in shares of Zymeworks by 11.2% in the 3rd quarter. Swiss National Bank now owns 77,600 shares of the company's stock valued at $492,000 after acquiring an additional 7,800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Zymeworks by 359.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 189,444 shares of the company's stock valued at $1,201,000 after acquiring an additional 148,212 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.
About Zymeworks
(
Get 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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