Kennedy Capital Management LLC Reduces Holdings in Zymeworks Inc. (NYSE:ZYME)

Kennedy Capital Management LLC reduced its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 1.1% in the first quarter, Holdings Channel reports. The institutional investor owned 154,362 shares of the company’s stock after selling 1,672 shares during the period. Kennedy Capital Management LLC’s holdings in Zymeworks were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ZYME. AlphaMark Advisors LLC bought a new stake in shares of Zymeworks during the 1st quarter valued at $32,000. New York State Teachers Retirement System purchased a new stake in shares of Zymeworks during the fourth quarter worth about $50,000. AJOVista LLC bought a new stake in Zymeworks during the 4th quarter valued at approximately $66,000. China Universal Asset Management Co. Ltd. purchased a new position in Zymeworks in the 4th quarter worth approximately $84,000. Finally, Tocqueville Asset Management L.P. bought a new position in Zymeworks in the 1st quarter worth approximately $117,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

ZYME has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Zymeworks from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company decreased their price target on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, HC Wainwright restated a “neutral” rating and set a $10.00 price objective on shares of Zymeworks in a research report on Thursday, June 6th.

Zymeworks Trading Up 0.4 %

ZYME stock opened at $10.46 on Thursday. The company has a fifty day simple moving average of $9.15 and a two-hundred day simple moving average of $9.89. Zymeworks Inc. has a 52 week low of $6.01 and a 52 week high of $13.14.

Zymeworks (NYSE:ZYME) last announced its earnings results 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 return on equity of 28.37% and a negative net margin of 249.63%. The company had revenue of $10.03 million during the quarter, compared to analysts’ expectations of $17.98 million. On average, equities analysts predict that Zymeworks Inc. will post -1.24 EPS for the current fiscal year.

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.