Zymeworks Inc. (NYSE:ZYME) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Zymeworks Inc. (NYSE:ZYME) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,642 shares of the company’s stock after purchasing an additional 4,671 shares during the quarter. Principal Financial Group Inc.’s holdings in Zymeworks were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZYME. Rubric Capital Management LP boosted 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. increased its stake in Zymeworks by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock worth $25,859,000 after acquiring an additional 63,393 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Zymeworks by 4.1% in the first quarter. Acadian Asset Management LLC now owns 1,305,057 shares of the company’s stock valued at $13,724,000 after buying an additional 51,036 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Zymeworks by 94.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock valued at $7,537,000 after purchasing an additional 348,441 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Zymeworks in the first quarter valued at approximately $6,301,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. HC Wainwright reiterated a “neutral” rating and set a $10.00 price objective on shares of Zymeworks in a research note on Thursday, June 6th. 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.

Zymeworks Stock Performance

Shares of ZYME opened at $12.54 on Friday. The firm has a fifty day moving average of $10.71 and a 200-day moving average of $9.87. The company has a market cap of $890.97 million, a price-to-earnings ratio of -7.01 and a beta of 1.19. Zymeworks Inc. has a 1 year low of $6.01 and a 1 year high of $13.14.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $19.24 million during the quarter, compared to analyst estimates of $23.16 million. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. During the same period in the prior year, the company posted ($0.76) EPS. 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.