Cresset Asset Management LLC Sells 9,486 Shares of Zymeworks Inc. $ZYME

Cresset Asset Management LLC lowered its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 30.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,320 shares of the company’s stock after selling 9,486 shares during the quarter. Cresset Asset Management LLC’s holdings in Zymeworks were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in shares of Zymeworks by 0.4% in the first quarter. Deutsche Bank AG now owns 1,552,612 shares of the company’s stock worth $18,492,000 after acquiring an additional 5,840 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Zymeworks by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 972,742 shares of the company’s stock valued at $14,240,000 after purchasing an additional 123,240 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Zymeworks by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 759,653 shares of the company’s stock valued at $11,121,000 after purchasing an additional 17,092 shares in the last quarter. Blackstone Inc. raised its position in Zymeworks by 2,171.4% in the 4th quarter. Blackstone Inc. now owns 569,715 shares of the company’s stock worth $8,341,000 after purchasing an additional 544,633 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Zymeworks by 6.4% during the 4th quarter. Northern Trust Corp now owns 394,830 shares of the company’s stock worth $5,780,000 after buying an additional 23,903 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen assumed coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a “buy” rating for the company. Citigroup lifted their price objective on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. TD Securities started coverage on Zymeworks in a report on Tuesday, May 20th. They set a “buy” rating for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Zymeworks in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Zymeworks presently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Zymeworks Stock Up 1.8%

Shares of Zymeworks stock opened at $14.83 on Wednesday. Zymeworks Inc. has a 12 month low of $9.03 and a 12 month high of $17.70. The business has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $12.64. The stock has a market cap of $1.11 billion, a PE ratio of -9.89 and a beta of 1.26.

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

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.