Zymeworks Inc. (NYSE:ZYME) Stock Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in shares of Zymeworks Inc. (NYSE:ZYME) by 27.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 243,189 shares of the company’s stock after selling 91,592 shares during the period. Wellington Management Group LLP owned about 0.35% of Zymeworks worth $3,052,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake 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 during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Zymeworks by 5.0% in the 2nd 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. boosted its holdings in shares of Zymeworks by 18.0% in the 2nd quarter. Principal Financial Group Inc. now owns 30,642 shares of the company’s stock valued at $261,000 after buying an additional 4,671 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Zymeworks by 1.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,930,887 shares of the company’s stock worth $16,431,000 after acquiring an additional 23,173 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Zymeworks by 9.0% in the second quarter. Rhumbline Advisers now owns 86,912 shares of the company’s stock worth $740,000 after acquiring an additional 7,210 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Down 2.9 %

Shares of NYSE ZYME opened at $13.37 on Wednesday. The stock has a market cap of $920.90 million, a P/E ratio of -8.91 and a beta of 1.12. The firm’s 50-day simple moving average is $14.14 and its 200 day simple moving average is $11.75. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 28th. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and issued a $12.00 target price on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partnrs upgraded shares of Zymeworks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners upgraded shares of Zymeworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zymeworks has a consensus rating of “Moderate Buy” and a consensus price target of $18.83.

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.