Victory Capital Management Inc. Cuts Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Victory Capital Management Inc. trimmed its position in shares of Zymeworks Inc. (NYSE:ZYME) by 18.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,310 shares of the company’s stock after selling 28,640 shares during the quarter. Victory Capital Management Inc. owned approximately 0.19% of Zymeworks worth $1,065,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ZYME. EcoR1 Capital LLC increased its position in shares of Zymeworks by 33.3% during the first quarter. EcoR1 Capital LLC now owns 10,087,473 shares of the company’s stock worth $91,191,000 after purchasing an additional 2,518,900 shares in the last quarter. Credit Suisse AG acquired a new position in Zymeworks during the first quarter worth about $22,467,000. Sessa Capital IM L.P. acquired a new position in Zymeworks during the fourth quarter worth about $5,823,000. Goldman Sachs Group Inc. boosted its position in Zymeworks by 126.7% during the second quarter. Goldman Sachs Group Inc. now owns 1,179,893 shares of the company’s stock worth $6,253,000 after acquiring an additional 659,457 shares during the last quarter. Finally, Samsara BioCapital LLC boosted its position in Zymeworks by 66.9% during the fourth quarter. Samsara BioCapital LLC now owns 1,620,687 shares of the company’s stock worth $12,739,000 after acquiring an additional 649,700 shares during the last quarter. 93.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating and set a $8.00 price target on shares of Zymeworks in a research report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.44.

Zymeworks Stock Performance

Shares of Zymeworks stock opened at $6.99 on Tuesday. The firm has a market capitalization of $474.76 million, a price-to-earnings ratio of 2.50 and a beta of 0.96. Zymeworks Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $10.80. The stock has a 50 day moving average of $6.88 and a 200 day moving average of $7.87.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 10th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.25). Zymeworks had a net margin of 41.56% and a return on equity of 46.66%. The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $12.86 million. Analysts forecast that Zymeworks Inc. will post -2.25 EPS for the current year.

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 for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, colorectal, and endometrial cancers; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 1 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.