Perceptive Advisors LLC Raises Stock Holdings in Zymeworks Inc. $ZYME

Perceptive Advisors LLC boosted its holdings in Zymeworks Inc. (NASDAQ:ZYME) by 56.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,261,850 shares of the company’s stock after buying an additional 1,171,187 shares during the quarter. Zymeworks accounts for approximately 1.5% of Perceptive Advisors LLC’s holdings, making the stock its 20th biggest position. Perceptive Advisors LLC owned approximately 4.36% of Zymeworks worth $85,885,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Rubric Capital Management LP raised its position in Zymeworks by 22.1% in the 4th quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock worth $151,398,000 after buying an additional 1,039,449 shares during the last quarter. Vanguard Group Inc. raised its position in Zymeworks by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock worth $61,315,000 after buying an additional 174,293 shares during the last quarter. Vestal Point Capital LP raised its position in Zymeworks by 53.5% in the 3rd quarter. Vestal Point Capital LP now owns 1,765,000 shares of the company’s stock worth $30,146,000 after buying an additional 615,000 shares during the last quarter. Siren L.L.C. purchased a new position in Zymeworks in the 4th quarter worth about $44,238,000. Finally, Deutsche Bank AG increased its position in shares of Zymeworks by 3.3% during the 4th quarter. Deutsche Bank AG now owns 1,595,833 shares of the company’s stock valued at $42,018,000 after purchasing an additional 50,935 shares during the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ZYME. Truist Financial set a $28.00 price target on shares of Zymeworks and gave the company a “buy” rating in a research report on Tuesday, June 9th. Wells Fargo & Company upped their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price target on shares of Zymeworks in a research report on Wednesday, June 3rd. Leerink Partners upped their price target 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Zymeworks Trading Up 2.9%

Zymeworks stock opened at $23.14 on Thursday. The firm has a 50 day moving average of $25.54 and a 200 day moving average of $24.84. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -16.89 and a beta of 1.15. Zymeworks Inc. has a 12-month low of $11.51 and a 12-month high of $29.75.

Zymeworks (NASDAQ:ZYME) last released its earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. The firm had revenue of $2.41 million during the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%. On average, analysts predict that Zymeworks Inc. will post 1.1 EPS for the current year.

Zymeworks announced that its board has initiated a stock buyback program on Thursday, May 14th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the company to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is 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.