AQR Capital Management LLC Cuts Stake in Zymeworks Inc. (NYSE:ZYME)

AQR Capital Management LLC decreased its holdings in Zymeworks Inc. (NYSE:ZYME) by 80.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,272 shares of the company’s stock after selling 395,230 shares during the period. AQR Capital Management LLC owned approximately 0.13% of Zymeworks worth $802,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. AlphaMark Advisors LLC purchased a new position in Zymeworks during the first quarter worth about $32,000. 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 worth $78,000 after purchasing an additional 9,096 shares in the last quarter. MQS Management LLC purchased a new position in Zymeworks in the second quarter valued at $92,000. Arizona State Retirement System raised its stake in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after buying an additional 1,285 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in Zymeworks during the 1st quarter worth about $117,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Zymeworks Trading Up 2.8 %

ZYME stock opened at $13.20 on Friday. The company has a market capitalization of $937.86 million, a P/E ratio of -8.68 and a beta of 1.20. The business has a 50 day simple moving average of $11.71 and a 200-day simple moving average of $10.07. Zymeworks Inc. has a twelve month low of $6.22 and a twelve month high of $13.27.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results 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. Zymeworks had a negative return on equity of 21.97% and a negative net margin of 179.42%. The firm had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. During the same quarter last year, the company posted ($0.76) earnings per share. Research analysts predict that Zymeworks Inc. will post -0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZYME. HC Wainwright upped their price target on Zymeworks from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus upped their target price on shares of Zymeworks from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, August 2nd.

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.