Raymond James & Associates Sells 8,085 Shares of Zymeworks Inc. (NYSE:ZYME)

Raymond James & Associates lowered its position in Zymeworks Inc. (NYSE:ZYME) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,155 shares of the company’s stock after selling 8,085 shares during the quarter. Raymond James & Associates’ holdings in Zymeworks were worth $324,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP increased its holdings in shares of Zymeworks by 36.5% in the third quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock worth $25,000 after purchasing an additional 1,053 shares during the period. Arizona State Retirement System purchased a new position in Zymeworks in the third quarter worth $64,000. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the third quarter worth $80,000. Exchange Traded Concepts LLC grew its position in Zymeworks by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,617 shares of the company’s stock worth $214,000 after acquiring an additional 5,228 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Zymeworks in the third quarter worth $158,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

Shares of NYSE:ZYME opened at $8.26 on Monday. Zymeworks Inc. has a 52-week low of $6.01 and a 52-week high of $13.14. The firm has a fifty day moving average of $10.44 and a 200 day moving average of $9.66. The firm has a market capitalization of $582.91 million, a PE ratio of -4.75 and a beta of 1.14.

Zymeworks (NYSE:ZYME) last announced its earnings results on Wednesday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.19. Zymeworks had a negative net margin of 156.12% and a negative return on equity of 26.20%. The company had revenue of $16.93 million during the quarter, compared to analyst estimates of $18.32 million. On average, sell-side analysts forecast that Zymeworks Inc. will post -1.04 EPS for the current fiscal year.

About Zymeworks

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.