Hillsdale Investment Management Inc. Has $6.26 Million Holdings in Zymeworks Inc. $ZYME

Hillsdale Investment Management Inc. increased its holdings in Zymeworks Inc. (NASDAQ:ZYME) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,922 shares of the company’s stock after acquiring an additional 21,500 shares during the period. Hillsdale Investment Management Inc. owned about 0.32% of Zymeworks worth $6,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. acquired a new stake in shares of Zymeworks in the 3rd quarter worth about $26,000. Quarry LP acquired a new stake in shares of Zymeworks in the 3rd quarter worth about $50,000. Tower Research Capital LLC TRC raised its holdings in shares of Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after acquiring an additional 1,131 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Zymeworks by 25.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock worth $96,000 after acquiring an additional 731 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Zymeworks by 157.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock worth $129,000 after acquiring an additional 6,307 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Zymeworks from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Monday, April 20th. Leerink Partners upped their price objective on shares of Zymeworks from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus upped their price objective on shares of Zymeworks from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, HC Wainwright upped their price objective on shares of Zymeworks from $32.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Zymeworks Stock Performance

Shares of ZYME stock 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 company has a 50-day simple moving average of $25.82 and a two-hundred day simple moving average of $24.74. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -18.34 and a beta of 1.20.

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

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

Zymeworks Company Profile

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.