Massachusetts Financial Services Co. MA Reduces Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Massachusetts Financial Services Co. MA lessened its stake in Zymeworks Inc. (NYSE:ZYME) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,856 shares of the company’s stock after selling 1,933 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Zymeworks were worth $1,002,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rubric Capital Management LP increased its position in shares of Zymeworks by 12.7% during the second quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock worth $33,336,000 after acquiring an additional 441,947 shares during the last quarter. Vanguard Group Inc. increased its holdings in Zymeworks by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after purchasing an additional 63,393 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Zymeworks by 0.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,945,491 shares of the company’s stock valued at $24,416,000 after purchasing an additional 14,604 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company’s stock valued at $14,192,000 after buying an additional 592,904 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock worth $6,090,000 after buying an additional 401,068 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the topic of a number of research analyst reports. Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock. in a research note on Friday, November 1st. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research report on Friday, November 22nd. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Zymeworks Trading Up 0.8 %

NYSE:ZYME opened at $14.42 on Thursday. The firm has a market capitalization of $993.22 million, a PE ratio of -9.41 and a beta of 1.16. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The stock has a 50 day moving average of $13.81 and a 200-day moving average of $11.28.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same period in the prior year, the business earned ($0.41) EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, analysts predict that Zymeworks Inc. will post -1.28 EPS 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.