MQS Management LLC Makes New $92,000 Investment in Zymeworks Inc. (NYSE:ZYME)

MQS Management LLC bought a new stake in Zymeworks Inc. (NYSE:ZYME) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,790 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its holdings in Zymeworks by 2.9% in the first quarter. California State Teachers Retirement System now owns 43,420 shares of the company’s stock worth $457,000 after purchasing an additional 1,215 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Zymeworks by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Zymeworks by 11.1% in the 1st quarter. ProShare Advisors LLC now owns 14,952 shares of the company’s stock worth $157,000 after buying an additional 1,499 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Zymeworks by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 90,158 shares of the company’s stock worth $767,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Zymeworks by 17.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,664 shares of the company’s stock valued at $165,000 after acquiring an additional 2,351 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have 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 Wednesday. Stifel Nicolaus upped their price target on Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Zymeworks Stock Performance

NYSE:ZYME opened at $13.09 on Friday. The firm has a market cap of $925.53 million, a P/E ratio of -7.31 and a beta of 1.19. Zymeworks Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $13.23. The firm has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $9.89.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $23.16 million. During the same period in the previous year, the business earned ($0.76) EPS. On average, equities research analysts predict that Zymeworks Inc. will post -0.85 EPS 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.