Rhumbline Advisers Acquires 7,210 Shares of Zymeworks Inc. (NYSE:ZYME)

Rhumbline Advisers raised its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,912 shares of the company’s stock after purchasing an additional 7,210 shares during the quarter. Rhumbline Advisers owned 0.12% of Zymeworks worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Rubric Capital Management LP lifted its stake in Zymeworks by 31.1% in the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after purchasing an additional 823,990 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Zymeworks during the 1st quarter worth $6,301,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Zymeworks by 94.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company’s stock worth $7,537,000 after buying an additional 348,441 shares during the period. Altitude Crest Partners Inc. bought a new position in shares of Zymeworks during the 1st quarter worth $1,532,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Zymeworks by 51.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 255,497 shares of the company’s stock valued at $2,688,000 after buying an additional 86,797 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $12.50 on Wednesday. Zymeworks Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $13.27. The company has a market cap of $883.81 million, a PE ratio of -6.98 and a beta of 1.19. The business has a 50-day simple moving average of $11.13 and a two-hundred day simple moving average of $9.89.

Zymeworks (NYSE:ZYME) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.01. The company had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. During the same quarter in the previous year, the firm earned ($0.76) EPS. On average, sell-side analysts predict that Zymeworks Inc. will post -0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZYME. Stifel Nicolaus upped their price target on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright restated a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a report on Wednesday, September 18th.

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.