American Century Companies Inc. Trims Stock Position in Zymeworks Inc. $ZYME

American Century Companies Inc. cut its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 22.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,147 shares of the company’s stock after selling 8,795 shares during the quarter. American Century Companies Inc.’s holdings in Zymeworks were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Zymeworks by 1,091.2% in the 1st quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after purchasing an additional 2,106 shares during the period. GAMMA Investing LLC grew its stake in Zymeworks by 1,113.3% during the 1st quarter. GAMMA Investing LLC now owns 6,467 shares of the company’s stock valued at $77,000 after purchasing an additional 5,934 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Zymeworks in the 4th quarter worth approximately $108,000. Janney Montgomery Scott LLC grew its position in shares of Zymeworks by 12.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company’s stock worth $138,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Zymeworks by 17.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,583 shares of the company’s stock worth $316,000 after acquiring an additional 3,235 shares in the last quarter. 92.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ZYME has been the topic of several recent research reports. Citigroup raised their price target on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, August 11th. TD Securities assumed coverage on Zymeworks in a research note on Tuesday, May 20th. They issued a “buy” rating on the stock. HC Wainwright restated a “neutral” rating and issued a $13.00 target price on shares of Zymeworks in a report on Thursday, July 3rd. Finally, TD Cowen initiated coverage on Zymeworks in a report on Tuesday, May 20th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

Zymeworks Stock Up 6.9%

Zymeworks stock opened at $15.05 on Friday. The business has a 50 day moving average price of $13.63 and a two-hundred day moving average price of $12.65. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -10.03 and a beta of 1.27. Zymeworks Inc. has a 12 month low of $9.03 and a 12 month high of $17.70.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $17.18 million. During the same quarter in the prior year, the firm posted ($0.49) EPS. The company’s revenue for the quarter was up 153.2% on a year-over-year basis. On average, analysts expect that Zymeworks Inc. will post -1.39 earnings per share for the current fiscal 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.