Zymeworks Inc. (NYSE:ZYME) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its holdings in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,120 shares of the company's stock after selling 202,383 shares during the period. Granahan Investment Management LLC owned about 0.60% of Zymeworks worth $6,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in Zymeworks by 1.2% in the 4th quarter. Deutsche Bank AG now owns 1,546,772 shares of the company's stock valued at $22,645,000 after buying an additional 17,849 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Zymeworks by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company's stock valued at $11,121,000 after acquiring an additional 17,092 shares in the last quarter. Blackstone Inc. lifted its position in shares of Zymeworks by 2,171.4% in the fourth quarter. Blackstone Inc. now owns 569,715 shares of the company's stock valued at $8,341,000 after acquiring an additional 544,633 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Zymeworks during the 4th quarter worth about $108,000. Finally, Acuta Capital Partners LLC acquired a new position in Zymeworks in the 4th quarter valued at about $984,000. Hedge funds and other institutional investors own 92.89% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc bought 468,356 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now owns 16,802,141 shares in the company, valued at $209,690,719.68. This represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 1,350,347 shares of company stock worth $16,137,499 over the last ninety days. 1.92% of the stock is owned by company insiders.

Zymeworks Trading Down 0.1 %

Shares of ZYME opened at $11.31 on Friday. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The firm has a market capitalization of $786.92 million, a P/E ratio of -7.54 and a beta of 1.24. The stock's fifty day simple moving average is $11.86 and its 200 day simple moving average is $13.44.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.15. The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $20.65 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company's revenue was up 170.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) EPS. Sell-side analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Zymeworks Company 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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