Intech Investment Management LLC Acquires New Shares in Zymeworks Inc. (NYSE:ZYME)

Intech Investment Management LLC acquired a new position in shares of Zymeworks Inc. (NYSE:ZYME) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,160 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds have also added to or reduced their stakes in ZYME. DekaBank Deutsche Girozentrale bought a new stake in Zymeworks during the 3rd quarter worth approximately $47,000. Quest Partners LLC increased its holdings in shares of Zymeworks by 8,049.6% in the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after purchasing an additional 9,096 shares during the period. nVerses Capital LLC purchased a new stake in shares of Zymeworks in the third quarter worth $79,000. MQS Management LLC bought a new stake in Zymeworks during the second quarter valued at $92,000. Finally, Arizona State Retirement System increased its stake in Zymeworks by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after acquiring an additional 1,285 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Up 0.6 %

Shares of NYSE:ZYME opened at $14.20 on Friday. The stock has a market cap of $978.10 million, a PE ratio of -9.47 and a beta of 1.12. The company’s fifty day moving average is $14.03 and its 200 day moving average is $11.49. Zymeworks Inc. has a 52 week low of $7.97 and a 52 week high of $17.70.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $17.90 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. Zymeworks’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) EPS. Sell-side analysts anticipate that Zymeworks Inc. will post -1.43 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on ZYME shares. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $25.00 in a research note on Thursday, November 7th. Citigroup lifted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company cut Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 target price on the stock. in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their price objective on Zymeworks from $21.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

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.