Monaco Asset Management SAM Grows Holdings in Zymeworks Inc. (NYSE:ZYME)

Monaco Asset Management SAM grew its stake in Zymeworks Inc. (NYSE:ZYME) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 336,344 shares of the company’s stock after purchasing an additional 43,844 shares during the quarter. Zymeworks makes up approximately 0.5% of Monaco Asset Management SAM’s holdings, making the stock its 21st biggest holding. Monaco Asset Management SAM’s holdings in Zymeworks were worth $2,862,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in Zymeworks in the 1st quarter worth approximately $32,000. Quest Partners LLC lifted its position in shares of Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock valued at $78,000 after acquiring an additional 9,096 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Zymeworks by 11.1% during the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new position in shares of Zymeworks in the first quarter worth approximately $117,000. Finally, Caprock Group LLC acquired a new stake in Zymeworks during the 2nd quarter valued at $129,000. 92.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on ZYME shares. HC Wainwright restated a “neutral” rating and set a $10.00 price target on shares of Zymeworks in a report on Thursday, June 6th. Stifel Nicolaus upped their price objective on shares of Zymeworks from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $11.70 on Tuesday. Zymeworks Inc. has a one year low of $6.01 and a one year high of $13.14. The business has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $9.86.

Zymeworks (NYSE:ZYME) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The business had revenue of $19.24 million for the quarter, compared to analyst estimates of $23.16 million. During the same period in the previous year, the business earned ($0.76) EPS. Analysts predict that Zymeworks Inc. will post -0.85 earnings per share for the current 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.