ADAR1 Capital Management LLC Makes New $596,000 Investment in Zymeworks Inc. $ZYME

ADAR1 Capital Management LLC purchased a new position in shares of Zymeworks Inc. (NYSE:ZYME) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $596,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC boosted its position in Zymeworks by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock worth $3,031,000 after acquiring an additional 886 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Zymeworks by 12.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,567 shares of the company’s stock worth $138,000 after purchasing an additional 1,300 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of Zymeworks by 0.7% during the 1st quarter. Picton Mahoney Asset Management now owns 208,029 shares of the company’s stock worth $2,477,000 after purchasing an additional 1,460 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Zymeworks by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 33,946 shares of the company’s stock worth $497,000 after purchasing an additional 2,053 shares during the last quarter. Finally, CWM LLC grew its position in shares of Zymeworks by 1,091.2% in the first quarter. CWM LLC now owns 2,299 shares of the company’s stock valued at $27,000 after purchasing an additional 2,106 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

NYSE ZYME opened at $14.81 on Tuesday. Zymeworks Inc. has a 1-year low of $9.03 and a 1-year high of $17.70. The firm has a market capitalization of $1.11 billion, a P/E ratio of -9.87 and a beta of 1.26. The business’s 50-day simple moving average is $13.50 and its 200-day simple moving average is $12.65.

Zymeworks (NYSE:ZYME) last posted its earnings results on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.55. The firm had revenue of $48.73 million during the quarter, compared to the consensus estimate of $17.18 million. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company’s revenue was up 153.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) EPS. On average, equities research analysts expect that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZYME. Citigroup raised their price target on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. HC Wainwright reissued a “neutral” rating and issued a $13.00 target price on shares of Zymeworks in a research report on Thursday, July 3rd. TD Cowen initiated coverage on shares of Zymeworks in a report on Tuesday, May 20th. They issued a “buy” rating for the company. Finally, TD Securities initiated coverage on shares of Zymeworks in a research note on Tuesday, May 20th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

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.