Geode Capital Management LLC Grows Stock Position in Zymeworks Inc. (NYSE:ZYME)

Geode Capital Management LLC raised its position in Zymeworks Inc. (NYSE:ZYME) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 713,915 shares of the company’s stock after acquiring an additional 965 shares during the quarter. Geode Capital Management LLC owned 1.04% of Zymeworks worth $8,960,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in Zymeworks by 84.2% during the 3rd quarter. FMR LLC now owns 3,336 shares of the company’s stock valued at $42,000 after purchasing an additional 1,525 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Zymeworks in the 3rd quarter valued at about $47,000. nVerses Capital LLC purchased a new position in Zymeworks in the 3rd quarter valued at about $79,000. Quest Partners LLC grew its stake in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after acquiring an additional 9,096 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Zymeworks during the second quarter worth about $92,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ecor1 Capital, Llc bought 11,958 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were purchased at an average cost of $14.12 per share, with a total value of $168,846.96. Following the completion of the transaction, the director now directly owns 14,704,239 shares of the company’s stock, valued at approximately $207,623,854.68. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.92% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ZYME has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Zymeworks from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Citigroup increased their target price on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upgraded shares of Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, December 16th. HC Wainwright reiterated a “neutral” rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Leerink Partners raised shares of Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $10.00 to $25.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Zymeworks Price Performance

Shares of ZYME opened at $14.64 on Thursday. The stock has a market capitalization of $1.01 billion, a PE ratio of -9.76 and a beta of 1.12. The business’s fifty day moving average price is $14.36 and its 200 day moving average price is $12.17. Zymeworks Inc. has a 12-month low of $7.97 and a 12-month high of $17.70.

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