Assenagon Asset Management S.A. Acquires Shares of 166,549 Zymeworks Inc. (NYSE:ZYME)

Assenagon Asset Management S.A. acquired a new stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 166,549 shares of the company's stock, valued at approximately $1,752,000. Assenagon Asset Management S.A. owned 0.24% of Zymeworks at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ZYME. Bank of New York Mellon Corp grew its holdings in Zymeworks by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 139,415 shares of the company's stock valued at $884,000 after purchasing an additional 2,315 shares during the period. Strs Ohio boosted its holdings in shares of Zymeworks by 146.4% in the third quarter. Strs Ohio now owns 82,800 shares of the company's stock worth $524,000 after acquiring an additional 49,200 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Zymeworks by 359.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 189,444 shares of the company's stock worth $1,201,000 after acquiring an additional 148,212 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Zymeworks by 2.5% in the third quarter. Picton Mahoney Asset Management now owns 358,818 shares of the company's stock worth $2,275,000 after acquiring an additional 8,654 shares during the period. Finally, Arizona State Retirement System bought a new position in shares of Zymeworks in the third quarter worth $64,000. 92.89% of the stock is owned by institutional investors.

Zymeworks Stock Down 1.5 %

NYSE:ZYME traded down $0.14 during trading hours on Monday, hitting $8.98. 294,429 shares of the company's stock traded hands, compared to its average volume of 602,598. The firm has a market cap of $634.98 million, a P/E ratio of -5.02 and a beta of 1.16. Zymeworks Inc. has a 52 week low of $6.01 and a 52 week high of $13.14. The business's fifty day simple moving average is $9.48 and its two-hundred day simple moving average is $9.89.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.19. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $18.32 million. Zymeworks had a negative return on equity of 28.37% and a negative net margin of 249.63%. On average, analysts expect that Zymeworks Inc. will post -1.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ZYME. Wells Fargo & Company cut their price target on Zymeworks from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. Citigroup cut their price target on Zymeworks from $17.00 to $16.00 and set a "buy" rating for the company in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $10.00 price target on shares of Zymeworks in a report on Tuesday, May 7th.

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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