Zymeworks Inc. (NYSE:ZYME) Position Boosted by Perceptive Advisors LLC

Perceptive Advisors LLC raised its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 55.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,667,711 shares of the company’s stock after acquiring an additional 592,904 shares during the quarter. Perceptive Advisors LLC owned approximately 2.35% of Zymeworks worth $14,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. AlphaMark Advisors LLC bought a new stake in shares of Zymeworks in the 1st quarter valued at approximately $32,000. Quest Partners LLC lifted its holdings in Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the last quarter. MQS Management LLC acquired a new stake in Zymeworks in the 2nd quarter worth approximately $92,000. Tocqueville Asset Management L.P. acquired a new stake in Zymeworks in the 1st quarter worth approximately $117,000. Finally, Arizona State Retirement System lifted its holdings in Zymeworks by 11.1% in 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 last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Trading Down 0.4 %

Shares of NYSE ZYME opened at $12.42 on Monday. The business has a fifty day simple moving average of $11.28 and a 200 day simple moving average of $9.93. Zymeworks Inc. has a one year low of $6.01 and a one year high of $13.27. The firm has a market capitalization of $882.44 million, a price-to-earnings ratio of -6.94 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZYME. HC Wainwright upped their price target on Zymeworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus upped their price target on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a 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.