nVerses Capital LLC Acquires New Stake in Zymeworks Inc. (NYSE:ZYME)

nVerses Capital LLC acquired a new stake in Zymeworks Inc. (NYSE:ZYME) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,300 shares of the company’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Zymeworks in the 1st quarter valued at $579,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Zymeworks by 51.5% in the 1st 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. Point72 Asset Management L.P. purchased a new stake in shares of Zymeworks in the 2nd quarter valued at $1,683,000. Rubric Capital Management LP raised its holdings in shares of Zymeworks by 12.7% in the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company’s stock valued at $33,336,000 after buying an additional 441,947 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Zymeworks by 401.9% in the 2nd quarter. Squarepoint Ops LLC now owns 73,324 shares of the company’s stock valued at $624,000 after buying an additional 58,716 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the topic of several recent research reports. HC Wainwright upped their price target on Zymeworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Stifel Nicolaus raised 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 Stock Performance

NYSE:ZYME opened at $13.48 on Monday. Zymeworks Inc. has a 1 year low of $6.51 and a 1 year high of $14.05. The stock has a market cap of $957.75 million, a P/E ratio of -8.87 and a beta of 1.20. The stock has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $10.19.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.01. The company had revenue of $19.24 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted ($0.76) earnings per share. On average, equities research 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.