Zurcher Kantonalbank Zurich Cantonalbank Purchases 4,920 Shares of Zymeworks Inc. (NYSE:ZYME)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zymeworks Inc. (NYSE:ZYME) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,531 shares of the company’s stock after buying an additional 4,920 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zymeworks were worth $292,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. acquired a new position in Zymeworks in the fourth quarter valued at about $585,000. Prudential Financial Inc. acquired a new position in Zymeworks during the fourth quarter valued at approximately $288,000. JPMorgan Chase & Co. boosted its position in Zymeworks by 185.1% during the fourth quarter. JPMorgan Chase & Co. now owns 111,983 shares of the company’s stock valued at $1,639,000 after purchasing an additional 72,703 shares during the last quarter. Norges Bank acquired a new stake in shares of Zymeworks in the fourth quarter valued at approximately $2,953,000. Finally, Federated Hermes Inc. lifted its holdings in Zymeworks by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 181,626 shares of the company’s stock worth $2,659,000 after purchasing an additional 3,367 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Insider Buying and Selling

In other Zymeworks news, Director Ecor1 Capital, Llc bought 5,919 shares of Zymeworks stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $11.78 per share, with a total value of $69,725.82. Following the completion of the acquisition, the director directly owned 17,883,908 shares in the company, valued at approximately $210,672,436.24. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HC Wainwright restated a “neutral” rating and set a $13.00 price objective on shares of Zymeworks in a research note on Thursday, July 3rd. TD Cowen assumed coverage on Zymeworks in a research report on Tuesday, May 20th. They set a “buy” rating on the stock. Finally, TD Securities started coverage on Zymeworks in a research report on Tuesday, May 20th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zymeworks currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Zymeworks Price Performance

Shares of NYSE:ZYME opened at $12.02 on Friday. The company has a market capitalization of $837.59 million, a price-to-earnings ratio of -8.01 and a beta of 1.26. The business’s 50-day moving average is $12.92 and its 200-day moving average is $12.70. Zymeworks Inc. has a 1 year low of $9.03 and a 1 year high of $17.70.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.55. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The business had revenue of $48.73 million during the quarter, compared to analyst estimates of $17.18 million. During the same period in the previous year, the company posted ($0.49) EPS. The firm’s revenue was up 153.2% compared to the same quarter last year. Analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current 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.