Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 39.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,082 shares of the company’s stock after selling 11,266 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zymeworks were worth $145,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Zymeworks by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 309,703 shares of the company’s stock valued at $2,636,000 after buying an additional 14,825 shares during the period. SummerHaven Investment Management LLC raised its holdings in Zymeworks by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock worth $767,000 after purchasing an additional 1,772 shares in the last quarter. California State Teachers Retirement System lifted its position in Zymeworks by 2.9% in the first quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock valued at $457,000 after purchasing an additional 1,215 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Zymeworks by 94.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock valued at $7,537,000 after purchasing an additional 348,441 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in Zymeworks by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 393,021 shares of the company’s stock worth $4,135,000 after purchasing an additional 17,173 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Price Performance

NYSE ZYME opened at $11.70 on Tuesday. The business has a 50 day moving average price of $10.42 and a 200 day moving average price of $9.86. The company has a market capitalization of $831.29 million, a P/E ratio of -6.54 and a beta of 1.19. Zymeworks Inc. has a 1-year low of $6.01 and a 1-year high of $13.14.

Zymeworks (NYSE:ZYME) last posted 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 company 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 company earned ($0.76) earnings per share. On average, research analysts expect that Zymeworks Inc. will post -0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZYME. HC Wainwright restated a “neutral” rating and issued a $10.00 price target on shares of Zymeworks in a research note on Thursday, June 6th. Stifel Nicolaus boosted their target price on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

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.