Acadian Asset Management LLC Trims Stake in Zymeworks Inc. (NYSE:ZYME)

Acadian Asset Management LLC cut its position in Zymeworks Inc. (NYSE:ZYME) by 52.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 614,195 shares of the company’s stock after selling 690,862 shares during the quarter. Acadian Asset Management LLC’s holdings in Zymeworks were worth $5,221,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ZYME. AlphaMark Advisors LLC acquired a new stake in shares of Zymeworks in the first quarter valued at approximately $32,000. Arizona State Retirement System boosted its stake in Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after purchasing an additional 1,285 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in Zymeworks during the 1st quarter worth $117,000. China Universal Asset Management Co. Ltd. grew its position in Zymeworks by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,444 shares of the company’s stock worth $141,000 after purchasing an additional 5,344 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in Zymeworks by 11.1% in the first quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock valued at $157,000 after purchasing an additional 1,499 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ZYME shares. HC Wainwright reiterated a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a research note on Thursday, June 6th. Stifel Nicolaus increased their price objective on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Zymeworks Stock Performance

Shares of Zymeworks stock opened at $12.10 on Thursday. Zymeworks Inc. has a one year low of $6.01 and a one year high of $13.14. The company has a market cap of $859.71 million, a P/E ratio of -6.76 and a beta of 1.19. The firm has a fifty day moving average of $10.56 and a two-hundred day moving average of $9.88.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. The firm had revenue of $19.24 million during the quarter, compared to analysts’ expectations of $23.16 million. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. During the same period in the prior year, the company posted ($0.76) earnings per share. As a group, equities analysts predict that Zymeworks Inc. will post -0.85 earnings per share for the current 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.