BVF Inc. IL Sells 299,000 Shares of Zymeworks Inc. (NYSE:ZYME)

BVF Inc. IL trimmed its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,308,935 shares of the company's stock after selling 299,000 shares during the period. Zymeworks makes up about 2.1% of BVF Inc. IL's holdings, making the stock its 10th largest holding. BVF Inc. IL owned approximately 6.26% of Zymeworks worth $63,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in shares of Zymeworks during the fourth quarter valued at about $108,000. Acuta Capital Partners LLC acquired a new stake in Zymeworks in the 4th quarter valued at approximately $984,000. Schonfeld Strategic Advisors LLC purchased a new stake in Zymeworks in the fourth quarter valued at approximately $334,000. Northern Trust Corp raised its position in Zymeworks by 6.4% in the fourth quarter. Northern Trust Corp now owns 394,830 shares of the company's stock valued at $5,780,000 after purchasing an additional 23,903 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Zymeworks during the fourth quarter worth $1,428,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 468,356 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the transaction, the director now directly owns 16,802,141 shares of the company's stock, valued at approximately $209,690,719.68. This represents a 2.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders acquired 1,350,347 shares of company stock valued at $16,137,499. 1.92% of the stock is currently owned by corporate insiders.

Zymeworks Stock Up 1.4 %

Zymeworks stock traded up $0.16 during trading on Friday, reaching $11.48. The stock had a trading volume of 389,926 shares, compared to its average volume of 605,891. Zymeworks Inc. has a 52-week low of $8.21 and a 52-week high of $17.70. The stock has a market cap of $798.74 million, a PE ratio of -7.65 and a beta of 1.24. The business has a 50 day moving average price of $11.88 and a 200 day moving average price of $13.46.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Lifesci Capital initiated coverage on Zymeworks in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $30.00 price objective for the company. HC Wainwright boosted their price target 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. Finally, Citigroup increased their price target 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. 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.com, Zymeworks currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

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.