Zymeworks Inc (NYSE:ZYME) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in Zymeworks Inc (NYSE:ZYME) by 18.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,361 shares of the company’s stock after selling 11,646 shares during the quarter. Wells Fargo & Company MN owned 0.13% of Zymeworks worth $1,129,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ZYME. Advisor Group Inc. increased its stake in shares of Zymeworks by 42.7% in the 2nd quarter. Advisor Group Inc. now owns 1,806 shares of the company’s stock valued at $40,000 after purchasing an additional 540 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Zymeworks by 36.1% in the 1st quarter. Bank of Montreal Can now owns 5,960 shares of the company’s stock valued at $96,000 after purchasing an additional 1,580 shares in the last quarter. TD Asset Management Inc. purchased a new position in shares of Zymeworks in the 2nd quarter valued at about $258,000. Granite Investment Partners LLC increased its stake in shares of Zymeworks by 87.8% in the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after purchasing an additional 12,750 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its stake in shares of Zymeworks by 100.0% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 30,000 shares of the company’s stock valued at $659,000 after purchasing an additional 15,000 shares in the last quarter. 49.91% of the stock is owned by institutional investors and hedge funds.

Shares of ZYME stock traded up $0.10 during trading hours on Tuesday, reaching $24.90. The company had a trading volume of 80,728 shares, compared to its average volume of 286,929. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.07 and a current ratio of 9.07. The stock has a fifty day moving average of $26.17 and a 200-day moving average of $21.16. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.76 and a beta of 1.36. Zymeworks Inc has a 12-month low of $10.72 and a 12-month high of $29.75.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.06). The company had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $7.25 million. Zymeworks had a negative net margin of 102.78% and a negative return on equity of 24.44%. On average, analysts forecast that Zymeworks Inc will post -2.54 EPS for the current year.

ZYME has been the subject of several recent analyst reports. Stifel Nicolaus assumed coverage on Zymeworks in a research note on Friday, August 30th. They issued a “buy” rating and a $45.00 price target for the company. Citigroup boosted their price objective on Zymeworks from $22.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on Zymeworks from $15.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Raymond James upgraded Zymeworks from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $36.00 to $40.00 in a research note on Monday. Finally, Deutsche Bank assumed coverage on Zymeworks in a research note on Thursday, July 18th. They set a “buy” rating and a $34.00 price objective for the company. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Zymeworks presently has a consensus rating of “Buy” and a consensus price target of $35.25.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

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Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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