Barclays PLC Raises Stake in Zymeworks Inc. (NYSE:ZYME)

Barclays PLC lifted its position in Zymeworks Inc. (NYSE:ZYME) by 476.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,384 shares of the company’s stock after purchasing an additional 127,595 shares during the period. Barclays PLC owned about 0.22% of Zymeworks worth $1,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Zymeworks by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company’s stock worth $1,667,000 after purchasing an additional 650 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock worth $109,000 after buying an additional 1,285 shares in the last quarter. FMR LLC boosted its position in shares of Zymeworks by 84.2% during the third quarter. FMR LLC now owns 3,336 shares of the company’s stock worth $42,000 after acquiring an additional 1,525 shares during the last quarter. Stifel Financial Corp grew its stake in Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company’s stock valued at $924,000 after acquiring an additional 1,540 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Zymeworks by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,695 shares of the company’s stock valued at $193,000 after acquiring an additional 2,653 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Citigroup raised their price target on Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised Zymeworks from a “neutral” rating to an “overweight” rating and set a $18.00 price objective on the stock in a report on Monday, December 16th. Stifel Nicolaus increased their target price on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company boosted their price target on shares of Zymeworks from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Zymeworks Stock Performance

NYSE ZYME opened at $14.50 on Friday. The company has a market cap of $998.73 million, a P/E ratio of -9.67 and a beta of 1.12. The business’s 50 day moving average price is $14.25 and its 200-day moving average price is $12.00. Zymeworks Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $17.70.

Zymeworks (NYSE:ZYME) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The business had revenue of $16.00 million for the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts predict that Zymeworks Inc. will post -1.43 EPS for the current year.

Zymeworks 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.