Raymond James Financial Inc. Purchases New Position in Zymeworks Inc. (NYSE:ZYME)

Raymond James Financial Inc. acquired a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 60,642 shares of the company's stock, valued at approximately $888,000. Raymond James Financial Inc. owned approximately 0.09% of Zymeworks at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in shares of Zymeworks during the fourth quarter worth approximately $4,892,000. Assenagon Asset Management S.A. boosted its holdings in shares of Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock worth $9,403,000 after acquiring an additional 311,107 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Zymeworks during the fourth quarter worth approximately $3,368,000. Norges Bank bought a new stake in shares of Zymeworks during the fourth quarter worth approximately $2,953,000. Finally, Barclays PLC boosted its holdings in shares of Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company's stock worth $1,937,000 after acquiring an additional 127,595 shares during the period. Institutional investors own 92.89% of the company's stock.

Zymeworks Stock Performance

NYSE:ZYME traded down $0.01 on Friday, hitting $11.31. The stock had a trading volume of 658,545 shares, compared to its average volume of 605,349. The stock has a market cap of $786.92 million, a P/E ratio of -7.54 and a beta of 1.24. Zymeworks Inc. has a 1 year low of $8.21 and a 1 year high of $17.70. The firm's fifty day simple moving average is $11.86 and its two-hundred day simple moving average is $13.45.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. During the same quarter last year, the business posted ($0.42) EPS. Zymeworks's quarterly revenue was up 170.3% compared to the same quarter last year. Equities research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the acquisition, the director now owns 16,802,141 shares of the company's stock, valued at approximately $209,690,719.68. The trade was a 2.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 1,350,347 shares of company stock valued at $16,137,499. Company insiders own 1.92% of the company's stock.

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.