Affinity Asset Advisors LLC Purchases New Stake in Zymeworks Inc. (NYSE:ZYME)

Affinity Asset Advisors LLC acquired a new position in shares of Zymeworks Inc. (NYSE:ZYME) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 191,127 shares of the company’s stock, valued at approximately $1,626,000. Affinity Asset Advisors LLC owned 0.27% of Zymeworks at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZYME. AlphaMark Advisors LLC acquired a new position in Zymeworks in the 1st quarter worth about $32,000. Quest Partners LLC grew its stake in shares of Zymeworks by 8,049.6% in the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after buying an additional 9,096 shares in the last quarter. MQS Management LLC acquired a new position in Zymeworks in the second quarter worth approximately $92,000. Tocqueville Asset Management L.P. acquired a new position in Zymeworks in the first quarter worth approximately $117,000. Finally, Arizona State Retirement System raised its position in Zymeworks by 11.1% during the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after acquiring an additional 1,285 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ZYME. Stifel Nicolaus boosted their target price 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 lifted their price objective on shares of Zymeworks from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday.

Zymeworks Stock Performance

NYSE ZYME opened at $12.50 on Wednesday. The stock has a 50-day simple moving average of $11.13 and a 200 day simple moving average of $9.89. Zymeworks Inc. has a twelve month low of $6.01 and a twelve month high of $13.27. The stock has a market capitalization of $888.13 million, a PE ratio of -6.98 and a beta of 1.19.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.01. The company had revenue of $19.24 million during the quarter, compared to analysts’ expectations 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 company posted ($0.76) earnings per share. As a group, equities research analysts forecast that Zymeworks Inc. will post -0.85 EPS 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.