Rhumbline Advisers Has $985,000 Stock Position in Zymeworks Inc. (NYSE:ZYME)

Rhumbline Advisers reduced its stake in Zymeworks Inc. (NYSE:ZYME) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,738 shares of the company’s stock after selling 21,138 shares during the quarter. Rhumbline Advisers owned 0.12% of Zymeworks worth $985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC grew its stake in shares of Zymeworks by 781.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after buying an additional 1,524 shares in the last quarter. AlphaQuest LLC increased its position 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 purchasing an additional 2,324 shares during the period. GAMMA Investing LLC boosted its position in shares of Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock worth $77,000 after acquiring an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Zymeworks during the 4th quarter worth $108,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock valued at $142,000 after purchasing an additional 7,518 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Performance

ZYME stock opened at $12.63 on Friday. The firm’s fifty day moving average is $12.01 and its 200 day moving average is $12.91. The firm has a market cap of $878.76 million, a P/E ratio of -8.42 and a beta of 1.18. Zymeworks Inc. has a 52 week low of $8.21 and a 52 week high of $17.70.

Zymeworks (NYSE:ZYME) last posted its earnings results 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 period in the previous year, the firm earned ($0.42) earnings per share. The business’s revenue was up 170.3% compared to the same quarter last year. As a group, analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current year.

Wall Street Analyst Weigh In

ZYME has been the topic of several analyst reports. Citigroup boosted their price objective on shares of Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. TD Cowen started coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating for the company. TD Securities began coverage on Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating on the stock. HC Wainwright raised their target price on Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Finally, Lifesci Capital assumed coverage on shares of Zymeworks in a report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Activity at Zymeworks

In related news, Director Ecor1 Capital, Llc bought 43,848 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $12.24 per share, with a total value of $536,699.52. Following the completion of the purchase, the director now owns 17,255,151 shares in the company, valued at approximately $211,203,048.24. The trade was a 0.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 471,106 shares of company stock worth $5,421,364 over the last ninety days. 1.92% of the stock is 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.