Intech Investment Management LLC Decreases Position in Zymeworks Inc. $ZYME

Intech Investment Management LLC cut its holdings in Zymeworks Inc. (NYSE:ZYME) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,163 shares of the company’s stock after selling 17,100 shares during the period. Intech Investment Management LLC’s holdings in Zymeworks were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Zymeworks by 184.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after acquiring an additional 2,514,834 shares during the last quarter. EcoR1 Capital LLC lifted its position in Zymeworks by 14.8% in the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock valued at $205,561,000 after purchasing an additional 2,231,469 shares during the last quarter. Vestal Point Capital LP lifted its position in Zymeworks by 170.3% in the first quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock valued at $5,955,000 after purchasing an additional 315,000 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Zymeworks during the first quarter valued at approximately $2,368,000. Finally, Tejara Capital Ltd grew its holdings in shares of Zymeworks by 391.5% in the first quarter. Tejara Capital Ltd now owns 189,409 shares of the company’s stock worth $2,256,000 after purchasing an additional 150,872 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Zymeworks Price Performance

Shares of NYSE ZYME opened at $26.03 on Tuesday. Zymeworks Inc. has a 1 year low of $9.03 and a 1 year high of $28.49. The stock has a market capitalization of $1.95 billion, a P/E ratio of -17.35 and a beta of 1.48. The company’s 50-day moving average is $19.42 and its 200 day moving average is $15.53.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on ZYME. HC Wainwright upped their price target on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Citigroup upped their price objective 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. Leerink Partners set a $37.00 target price on shares of Zymeworks in a report on Monday, November 17th. Wells Fargo & Company raised their target price on Zymeworks from $17.00 to $25.00 and gave the stock a “cautious” rating in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. upped their price target on Zymeworks from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Zymeworks presently has an average rating of “Moderate Buy” and an average price target of $31.13.

Zymeworks Company 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.