Zymeworks Inc. (NYSE:ZYME) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its holdings in Zymeworks Inc. (NYSE:ZYME) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,830 shares of the company’s stock after buying an additional 23,903 shares during the quarter. Northern Trust Corp owned about 0.57% of Zymeworks worth $5,780,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Zymeworks by 14.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock worth $14,240,000 after purchasing an additional 123,240 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Zymeworks in the fourth quarter worth $6,629,000. Empowered Funds LLC raised its holdings in shares of Zymeworks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 352,753 shares of the company’s stock worth $5,164,000 after acquiring an additional 17,092 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Zymeworks in the fourth quarter worth $4,892,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Zymeworks by 54.8% in the fourth quarter. Renaissance Technologies LLC now owns 285,700 shares of the company’s stock worth $4,183,000 after acquiring an additional 101,100 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 468,356 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the transaction, the director now directly owns 16,802,141 shares of the company’s stock, valued at approximately $209,690,719.68. This represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have purchased 1,405,768 shares of company stock worth $16,773,032. 1.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup lifted their price objective on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. TD Cowen assumed coverage on Zymeworks in a research report on Tuesday. They issued a “buy” rating for the company. HC Wainwright lifted their price objective on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. TD Securities assumed coverage on Zymeworks in a research report on Tuesday. They issued a “buy” rating for the company. Finally, Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Zymeworks Stock Performance

NYSE:ZYME opened at $12.43 on Wednesday. The business’s 50-day simple moving average is $11.80 and its 200 day simple moving average is $13.37. Zymeworks Inc. has a one year low of $8.21 and a one year high of $17.70. The stock has a market cap of $864.84 million, a price-to-earnings ratio of -8.29 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $20.65 million. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Zymeworks’s revenue for the quarter was up 170.3% compared to the same quarter last year. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

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.