Zymeworks Inc. $ZYME Stock Position Reduced by Virtus Investment Advisers LLC

Virtus Investment Advisers LLC trimmed its position in shares of Zymeworks Inc. (NYSE:ZYME) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,178 shares of the company’s stock after selling 5,828 shares during the period. Virtus Investment Advisers LLC’s holdings in Zymeworks were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Zymeworks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after purchasing an additional 1,427 shares during the last quarter. Bank of Montreal Can increased its position in Zymeworks by 6.7% during the second quarter. Bank of Montreal Can now owns 27,642 shares of the company’s stock worth $347,000 after buying an additional 1,730 shares during the last quarter. CWM LLC increased its position in Zymeworks by 1,091.2% during the first quarter. CWM LLC now owns 2,299 shares of the company’s stock worth $27,000 after buying an additional 2,106 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Zymeworks by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 133,639 shares of the company’s stock valued at $1,592,000 after buying an additional 2,333 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Zymeworks by 5.6% in the second quarter. Prudential Financial Inc. now owns 44,965 shares of the company’s stock worth $564,000 after buying an additional 2,395 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Zymeworks Price Performance

NYSE:ZYME opened at $26.57 on Monday. Zymeworks Inc. has a one year low of $9.03 and a one year high of $28.49. The company has a fifty day moving average price of $19.23 and a 200 day moving average price of $15.43. The stock has a market cap of $1.99 billion, a P/E ratio of -17.71 and a beta of 1.48.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $27.61 million for the quarter, compared to the consensus estimate of $33.69 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. The business’s revenue was up 72.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ZYME shares. JPMorgan Chase & Co. increased their price objective on Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. HC Wainwright lifted their price target on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. B. Riley restated a “buy” rating and issued a $40.00 price objective (up from $30.00) on shares of Zymeworks in a research note on Friday, November 21st. Citigroup raised their target price on shares of Zymeworks from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Stifel Nicolaus lifted their target price on shares of Zymeworks from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

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.