Arizona State Retirement System Has $109,000 Stock Holdings in Zymeworks Inc. (NYSE:ZYME)

Arizona State Retirement System grew its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,841 shares of the company’s stock after purchasing an additional 1,285 shares during the quarter. Arizona State Retirement System’s holdings in Zymeworks were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ZYME. Rubric Capital Management LP grew its stake in shares of Zymeworks by 31.1% in the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after buying an additional 823,990 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Zymeworks by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock valued at $25,859,000 after purchasing an additional 63,393 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Zymeworks by 1.2% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,930,887 shares of the company’s stock valued at $16,431,000 after purchasing an additional 23,173 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Zymeworks by 4.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,305,057 shares of the company’s stock valued at $13,724,000 after purchasing an additional 51,036 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Zymeworks by 94.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after purchasing an additional 348,441 shares during the period. Institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reiterated a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a research report on Wednesday.

Zymeworks Price Performance

ZYME opened at $12.52 on Thursday. Zymeworks Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $13.14. The company’s 50-day moving average is $10.84 and its 200 day moving average is $9.86. The firm has a market capitalization of $885.23 million, a P/E ratio of -6.99 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The company had revenue of $19.24 million for the quarter, compared to analysts’ expectations of $23.16 million. During the same period in the prior year, the company posted ($0.76) EPS. On average, equities research analysts expect that Zymeworks Inc. will post -0.85 earnings per share for the current 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.