Manatuck Hill Partners LLC Purchases New Stake in Zymeworks Inc. $ZYME

Manatuck Hill Partners LLC acquired a new position in Zymeworks Inc. (NASDAQ:ZYME) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $2,614,000.

A number of other institutional investors have also recently bought and sold shares of ZYME. AQR Capital Management LLC increased its holdings in shares of Zymeworks by 86.0% in the 1st quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock valued at $577,000 after purchasing an additional 22,411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after purchasing an additional 1,427 shares during the period. Jane Street Group LLC grew its position in Zymeworks by 487.0% during the first quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock valued at $1,617,000 after purchasing an additional 112,636 shares in the last quarter. Creative Planning grew its position in Zymeworks by 114.8% during the second quarter. Creative Planning now owns 25,389 shares of the company’s stock valued at $319,000 after purchasing an additional 13,567 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Zymeworks by 1,050.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 441,690 shares of the company’s stock valued at $5,543,000 after buying an additional 403,281 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ZYME shares. Truist Financial increased their target price on shares of Zymeworks from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. HC Wainwright upped their price target on shares of Zymeworks from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus set a $46.00 price objective on Zymeworks in a report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Zymeworks in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

Zymeworks Stock Down 4.5%

Shares of ZYME stock opened at $27.47 on Wednesday. Zymeworks Inc. has a 12 month low of $13.60 and a 12 month high of $30.50. The business’s 50 day moving average is $24.60 and its two-hundred day moving average is $24.72. The company has a market cap of $1.95 billion, a PE ratio of -13.60 and a beta of 1.15.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The firm had revenue of $3.23 million during the quarter, compared to analyst estimates of $4.54 million. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%.Zymeworks’s quarterly revenue was down 90.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, equities analysts expect that Zymeworks Inc. will post 1.25 EPS for the current fiscal year.

Zymeworks declared that its board has authorized a share buyback program on Thursday, May 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to buy up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Zymeworks 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.