Granahan Investment Management LLC Sells 202,383 Shares of Zymeworks Inc. (NYSE:ZYME)

Granahan Investment Management LLC lessened its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 33.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 411,120 shares of the company's stock after selling 202,383 shares during the period. Granahan Investment Management LLC owned approximately 0.60% of Zymeworks worth $6,019,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company's stock worth $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC raised its holdings in Zymeworks by 480.2% during the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company's stock worth $41,000 after acquiring an additional 2,324 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Zymeworks during the fourth quarter valued at approximately $108,000. Tower Research Capital LLC TRC grew its stake in Zymeworks by 343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company's stock valued at $142,000 after purchasing an additional 7,518 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Zymeworks during the 4th quarter worth approximately $151,000. Institutional investors own 92.89% of the company's stock.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc bought 73,953 shares of the stock in a transaction on Wednesday, April 16th. The shares were purchased at an average cost of $11.16 per share, for a total transaction of $825,315.48. Following the completion of the purchase, the director now directly owns 17,773,727 shares in the company, valued at $198,354,793.32. This represents a 0.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ZYME has been the topic of several recent analyst reports. Lifesci Capital assumed coverage on shares of Zymeworks in a research note on Tuesday, March 11th. They set an "outperform" rating and a $30.00 price objective on the stock. Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Finally, HC Wainwright lifted their target price on Zymeworks from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Zymeworks Stock Performance

Shares of NYSE:ZYME traded up $0.04 during trading on Thursday, reaching $11.29. The stock had a trading volume of 99,550 shares, compared to its average volume of 599,028. The firm's fifty day moving average is $11.81 and its 200 day moving average is $13.42. 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 $785.52 million, a price-to-earnings ratio of -7.54 and a beta of 1.24.

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