Rubric Capital Management LP lifted its position in shares of Zymeworks Inc. (NYSE:ZYME – Free Report) by 12.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,917,331 shares of the company’s stock after buying an additional 441,947 shares during the period. Rubric Capital Management LP owned about 5.54% of Zymeworks worth $33,336,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. MQS Management LLC bought a new stake in shares of Zymeworks during the second quarter valued at approximately $92,000. XTX Topco Ltd bought a new stake in Zymeworks during the second quarter valued at about $121,000. Renaissance Technologies LLC grew its holdings in Zymeworks by 104.8% during the second quarter. Renaissance Technologies LLC now owns 236,781 shares of the company’s stock valued at $2,015,000 after purchasing an additional 121,181 shares during the period. Dimensional Fund Advisors LP grew its holdings in Zymeworks by 127.5% during the second quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company’s stock valued at $6,090,000 after purchasing an additional 401,068 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Zymeworks in the second quarter worth about $696,000. 92.89% of the stock is currently owned by institutional investors.
Zymeworks Stock Performance
ZYME opened at $13.09 on Friday. The business’s 50 day moving average price is $11.03 and its 200 day moving average price is $9.91. Zymeworks Inc. has a one year low of $6.01 and a one year high of $13.23. The stock has a market capitalization of $925.53 million, a PE ratio of -7.31 and a beta of 1.19.
Wall Street Analysts Forecast Growth
ZYME has been the topic of a number of recent research reports. HC Wainwright restated a “neutral” rating and set a $10.00 price objective on shares of Zymeworks in a research report on Wednesday. Stifel Nicolaus increased their target price on Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 2nd.
Get Our Latest Analysis on Zymeworks
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.
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