The Manufacturers Life Insurance Company Sells 1,089 Shares of Zymeworks Inc. (NYSE:ZYME)

The Manufacturers Life Insurance Company reduced its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,958 shares of the company’s stock after selling 1,089 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zymeworks were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ZYME. Sterling Capital Management LLC grew its position in Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after acquiring an additional 1,524 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Zymeworks by 480.2% in the fourth quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after acquiring an additional 2,324 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Zymeworks by 343.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Zymeworks in the 4th quarter worth approximately $151,000. Finally, New York State Common Retirement Fund increased its holdings in Zymeworks by 42.7% during the fourth quarter. New York State Common Retirement Fund now owns 13,371 shares of the company’s stock valued at $196,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

ZYME stock opened at $11.71 on Friday. Zymeworks Inc. has a one year low of $8.21 and a one year high of $17.70. The firm has a market cap of $814.75 million, a PE ratio of -7.81 and a beta of 1.24. The firm’s fifty day moving average is $11.82 and its 200 day moving average is $13.39.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $27.11 million during the quarter, compared to analyst estimates of $20.65 million. During the same quarter in the previous year, the firm earned ($0.42) EPS. The firm’s revenue was up 170.3% compared to the same quarter last year. Research analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on ZYME shares. HC Wainwright boosted their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Citigroup lifted their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Lifesci Capital started coverage on shares of Zymeworks in a report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In related news, Director Ecor1 Capital, Llc bought 22,689 shares of the stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $13.08 per share, for a total transaction of $296,772.12. Following the acquisition, the director now directly owns 17,157,802 shares in the company, valued at approximately $224,424,050.16. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 1,350,347 shares of company stock worth $16,137,499 over the last quarter. 1.92% of the stock is currently owned by corporate insiders.

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.