Wellington Management Group LLP Boosts Holdings in Zymeworks Inc. (NYSE:ZYME)

Wellington Management Group LLP increased its position in shares of Zymeworks Inc. (NYSE:ZYME) by 31.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,246 shares of the company’s stock after buying an additional 48,564 shares during the quarter. Wellington Management Group LLP owned about 0.29% of Zymeworks worth $2,133,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ZYME. Gladius Capital Management LP grew its stake in Zymeworks by 36.5% during the 3rd quarter. Gladius Capital Management LP now owns 3,940 shares of the company’s stock worth $25,000 after purchasing an additional 1,053 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Zymeworks during the fourth quarter worth about $50,000. AJOVista LLC purchased a new stake in shares of Zymeworks during the fourth quarter worth approximately $66,000. China Universal Asset Management Co. Ltd. acquired a new stake in Zymeworks in the fourth quarter valued at approximately $84,000. Finally, Exchange Traded Concepts LLC lifted its stake in Zymeworks by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,617 shares of the company’s stock worth $214,000 after acquiring an additional 5,228 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ZYME. HC Wainwright restated a “neutral” rating and issued a $10.00 price objective on shares of Zymeworks in a report on Thursday, June 6th. Wells Fargo & Company decreased their target price on Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Citigroup reduced their price objective on shares of Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.

Zymeworks Stock Up 1.2 %

ZYME opened at $8.61 on Tuesday. Zymeworks Inc. has a 52 week low of $6.01 and a 52 week high of $13.14. The business’s 50 day moving average is $8.78 and its two-hundred day moving average is $9.97. The firm has a market cap of $608.77 million, a price-to-earnings ratio of -4.81 and a beta of 1.18.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The business had revenue of $10.03 million during the quarter, compared to analyst estimates of $17.98 million. Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. Equities analysts expect that Zymeworks Inc. will post -1.23 EPS 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.