32,000 Shares in Zymeworks Inc. $ZYME Acquired by SBI Okasan Asset Management Co.Ltd.

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Zymeworks Inc. (NASDAQ:ZYME) during the fourth quarter, HoldingsChannel reports. The firm purchased 32,000 shares of the company’s stock, valued at approximately $856,000.

Other hedge funds have also added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in Zymeworks during the third quarter worth $26,000. Quarry LP bought a new position in shares of Zymeworks in the third quarter valued at about $50,000. Tower Research Capital LLC TRC raised its position in shares of Zymeworks by 29.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after purchasing an additional 1,131 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zymeworks by 25.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after purchasing an additional 731 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Zymeworks by 157.7% in the second quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock valued at $129,000 after purchasing an additional 6,307 shares during the period. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Performance

NASDAQ:ZYME opened at $25.13 on Friday. Zymeworks Inc. has a 52 week low of $11.02 and a 52 week high of $29.75. The firm’s 50-day simple moving average is $25.82 and its 200 day simple moving average is $24.74. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -18.34 and a beta of 1.20.

Zymeworks (NASDAQ:ZYME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. The business had revenue of $2.41 million during the quarter. Zymeworks had a negative net margin of 126.92% and a negative return on equity of 37.97%. Sell-side analysts anticipate that Zymeworks Inc. will post 1.64 EPS for the current year.

Zymeworks announced that its board has initiated a share buyback plan on Thursday, May 14th that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Leerink Partners increased their price objective on shares of Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus increased their price objective on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. HC Wainwright increased their price objective on shares of Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Wells Fargo & Company increased their price objective on shares of Zymeworks from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Truist Financial raised shares of Zymeworks to a “strong-buy” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

About Zymeworks

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.