Zymeworks Inc. (NYSE:ZYME) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 94.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 716,482 shares of the company’s stock after purchasing an additional 348,441 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.01% of Zymeworks worth $7,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ZYME. Rubric Capital Management LP grew its holdings in shares of Zymeworks by 31.1% in the 4th quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock worth $36,109,000 after acquiring an additional 823,990 shares during the period. Vanguard Group Inc. increased its position in shares of Zymeworks by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock valued at $25,859,000 after buying an additional 63,393 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Zymeworks by 4.1% in the first quarter. Acadian Asset Management LLC now owns 1,305,057 shares of the company’s stock valued at $13,724,000 after buying an additional 51,036 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Zymeworks during the 1st quarter worth $6,301,000. Finally, Platinum Investment Management Ltd. boosted its position in shares of Zymeworks by 2.1% in the 1st quarter. Platinum Investment Management Ltd. now owns 418,376 shares of the company’s stock worth $4,401,000 after buying an additional 8,537 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Zymeworks Trading Down 1.7 %

Shares of NYSE ZYME traded down $0.18 during midday trading on Tuesday, reaching $10.42. 397,701 shares of the stock were exchanged, compared to its average volume of 605,893. The stock has a 50 day moving average price of $9.15 and a 200-day moving average price of $9.89. The company has a market capitalization of $736.80 million, a P/E ratio of -5.82 and a beta of 1.15. Zymeworks Inc. has a 52-week low of $6.01 and a 52-week high of $13.14.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Zymeworks had a negative net margin of 249.63% and a negative return on equity of 28.37%. The business had revenue of $10.03 million during the quarter, compared to analysts’ expectations of $17.98 million. On average, analysts forecast that Zymeworks Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ZYME. HC Wainwright restated a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a report on Thursday, June 6th. Wells Fargo & Company dropped their price objective on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Citigroup reduced their target price on Zymeworks from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd.

About Zymeworks

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.