Zymeworks Inc. (NYSE:ZYME) Shares Bought by Fmr LLC

Fmr LLC lifted its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 84.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,336 shares of the company’s stock after purchasing an additional 1,525 shares during the quarter. Fmr LLC’s holdings in Zymeworks were worth $42,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Zymeworks by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company’s stock worth $2,636,000 after buying an additional 14,825 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Zymeworks by 18.0% during the 2nd quarter. Principal Financial Group Inc. now owns 30,642 shares of the company’s stock worth $261,000 after acquiring an additional 4,671 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Zymeworks by 1.2% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,930,887 shares of the company’s stock valued at $16,431,000 after acquiring an additional 23,173 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Zymeworks by 9.0% in the second quarter. Rhumbline Advisers now owns 86,912 shares of the company’s stock valued at $740,000 after purchasing an additional 7,210 shares during the period. Finally, Victory Capital Management Inc. increased its position in Zymeworks by 23.5% during the second quarter. Victory Capital Management Inc. now owns 58,300 shares of the company’s stock worth $496,000 after purchasing an additional 11,100 shares during the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Zymeworks Stock Down 1.0 %

ZYME opened at $14.14 on Thursday. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70. The business has a fifty day simple moving average of $14.23 and a 200-day simple moving average of $11.98. The firm has a market cap of $973.93 million, a P/E ratio of -9.43 and a beta of 1.12.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the business posted ($0.41) EPS. Sell-side analysts expect that Zymeworks Inc. will post -1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ZYME. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 target price on the stock in a report on Monday, December 16th. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus increased their price target on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.17.

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.