Federated Hermes Inc. Has $1.53 Million Stake in Zymeworks Inc. (NYSE:ZYME)

Federated Hermes Inc. reduced its holdings in Zymeworks Inc. (NYSE:ZYME) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,381 shares of the company’s stock after selling 1,166 shares during the quarter. Federated Hermes Inc. owned approximately 0.25% of Zymeworks worth $1,527,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AlphaMark Advisors LLC acquired a new stake in Zymeworks in the 1st quarter valued at about $32,000. Quest Partners LLC grew its stake in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after purchasing an additional 9,096 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in Zymeworks in the 1st quarter worth approximately $117,000. Finally, Caprock Group LLC acquired a new position in Zymeworks during the 2nd quarter worth $129,000. 92.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright restated a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a research report on Wednesday.

Zymeworks Stock Up 0.3 %

ZYME stock opened at $13.09 on Friday. Zymeworks Inc. has a twelve month low of $6.01 and a twelve month high of $13.23. The company has a market cap of $925.53 million, a P/E ratio of -7.31 and a beta of 1.19. The business’s fifty day moving average is $10.97 and its 200-day moving average is $9.90.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. The firm had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. Research analysts anticipate that Zymeworks Inc. will post -0.85 earnings per share for the current fiscal year.

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.