Cwm LLC Increases Stock Position in Zymeworks Inc. $ZYME

Cwm LLC raised its holdings in Zymeworks Inc. (NYSE:ZYME) by 272.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,570 shares of the company’s stock after purchasing an additional 6,271 shares during the period. Cwm LLC’s holdings in Zymeworks were worth $108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in shares of Zymeworks by 487.0% in the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock valued at $1,617,000 after purchasing an additional 112,636 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Zymeworks by 184.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after buying an additional 2,514,834 shares during the period. Empowered Funds LLC lifted its stake in shares of Zymeworks by 2.1% during the first quarter. Empowered Funds LLC now owns 360,044 shares of the company’s stock valued at $4,288,000 after buying an additional 7,291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after buying an additional 1,427 shares during the period. Finally, EcoR1 Capital LLC lifted its stake in shares of Zymeworks by 14.8% during the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock valued at $205,561,000 after buying an additional 2,231,469 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 11th. B. Riley initiated coverage on shares of Zymeworks in a research note on Friday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Zymeworks in a research note on Friday, October 24th. They set an “equal weight” rating and a $15.00 price objective on the stock. HC Wainwright reissued a “buy” rating on shares of Zymeworks in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Zymeworks presently has a consensus rating of “Buy” and a consensus target price of $24.43.

Zymeworks Stock Down 0.2%

NYSE:ZYME opened at $19.08 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of -12.72 and a beta of 1.51. Zymeworks Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $19.98. The firm’s 50 day moving average is $16.65 and its two-hundred day moving average is $14.07.

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