Schonfeld Strategic Advisors LLC Buys Shares of 22,800 Zymeworks Inc. (NYSE:ZYME)

Schonfeld Strategic Advisors LLC purchased a new stake in Zymeworks Inc. (NYSE:ZYME - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,800 shares of the company's stock, valued at approximately $334,000.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Zymeworks by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company's stock valued at $14,240,000 after buying an additional 123,240 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Zymeworks by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company's stock valued at $9,403,000 after purchasing an additional 311,107 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Zymeworks in the fourth quarter valued at $6,629,000. Northern Trust Corp raised its stake in shares of Zymeworks by 6.4% during the 4th quarter. Northern Trust Corp now owns 394,830 shares of the company's stock worth $5,780,000 after buying an additional 23,903 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Zymeworks by 5.1% during the 4th quarter. Empowered Funds LLC now owns 352,753 shares of the company's stock worth $5,164,000 after buying an additional 17,092 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Zymeworks Stock Up 6.3%

NYSE ZYME opened at $12.02 on Tuesday. 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 cap of $836.32 million, a price-to-earnings ratio of -8.01 and a beta of 1.24. The business has a fifty day moving average of $11.83 and a 200-day moving average of $13.44.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly 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. The company had revenue of $27.11 million during the quarter, compared to analysts' expectations of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business's revenue for the quarter was up 170.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.42) earnings per share. As a group, analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Insider Activity at Zymeworks

In other news, Director Ecor1 Capital, Llc purchased 22,689 shares of the company's stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $13.08 per share, for a total transaction of $296,772.12. Following the completion of the purchase, the director now directly owns 17,157,802 shares of the company's stock, valued at $224,424,050.16. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders acquired 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is currently owned by insiders.

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.

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