Silvercrest Asset Management Group LLC Cuts Stock Position in Zymeworks Inc. (NYSE:ZYME)

Silvercrest Asset Management Group LLC lessened its stake in Zymeworks Inc. (NYSE:ZYME) by 1.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 282,345 shares of the company’s stock after selling 2,770 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Zymeworks were worth $4,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in Zymeworks by 781.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock worth $25,000 after purchasing an additional 1,524 shares during the last quarter. AlphaQuest LLC boosted its stake in Zymeworks by 480.2% during the 4th quarter. AlphaQuest LLC now owns 2,808 shares of the company’s stock worth $41,000 after purchasing an additional 2,324 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Zymeworks during the 4th quarter worth $108,000. Tower Research Capital LLC TRC boosted its stake in Zymeworks by 343.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,704 shares of the company’s stock worth $142,000 after purchasing an additional 7,518 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Zymeworks during the 4th quarter valued at about $151,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

NYSE ZYME opened at $11.82 on Tuesday. The firm’s 50-day moving average is $11.81 and its two-hundred day moving average is $13.37. Zymeworks Inc. has a 12 month low of $8.21 and a 12 month high of $17.70. The stock has a market capitalization of $822.40 million, a P/E ratio of -7.88 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, May 8th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $20.65 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. Zymeworks’s revenue for the quarter was up 170.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) earnings per share. As a group, analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Insiders Place Their Bets

In other Zymeworks news, Director Ecor1 Capital, Llc purchased 468,356 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $12.48 per share, for a total transaction of $5,845,082.88. Following the completion of the purchase, the director now directly owns 16,802,141 shares of the company’s stock, valued at approximately $209,690,719.68. This trade represents a 2.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 1,405,768 shares of company stock worth $16,773,032 over the last three months. Company insiders own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZYME shares. Lifesci Capital started coverage on shares of Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target on the stock. Citigroup boosted their price target on shares of Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, HC Wainwright boosted their price target on shares of Zymeworks from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zymeworks has an average rating of “Moderate Buy” and an average price target of $21.00.

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.