Acadian Asset Management LLC Purchases 51,036 Shares of Zymeworks Inc. (NYSE:ZYME)

Acadian Asset Management LLC grew its position in Zymeworks Inc. (NYSE:ZYME) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,305,057 shares of the company’s stock after acquiring an additional 51,036 shares during the period. Acadian Asset Management LLC owned 1.85% of Zymeworks worth $13,724,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rubric Capital Management LP increased its holdings in shares of Zymeworks by 31.1% in the fourth quarter. Rubric Capital Management LP now owns 3,475,384 shares of the company’s stock valued at $36,109,000 after purchasing an additional 823,990 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Zymeworks by 2.6% in the first quarter. Vanguard Group Inc. now owns 2,458,105 shares of the company’s stock valued at $25,859,000 after purchasing an additional 63,393 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Zymeworks by 8.2% in the first quarter. Empowered Funds LLC now owns 295,783 shares of the company’s stock valued at $3,112,000 after purchasing an additional 22,367 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Zymeworks by 20.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,625 shares of the company’s stock valued at $2,365,000 after purchasing an additional 38,181 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Zymeworks by 31.0% in the fourth quarter. Wellington Management Group LLP now owns 205,246 shares of the company’s stock valued at $2,133,000 after purchasing an additional 48,564 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ZYME shares. Citigroup lowered their price target on shares of Zymeworks from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company lowered their target price on shares of Zymeworks from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $10.00 target price on shares of Zymeworks in a report on Thursday, June 6th.

Zymeworks Price Performance

Shares of NYSE ZYME traded down $0.03 during midday trading on Friday, reaching $9.78. 597,545 shares of the stock were exchanged, compared to its average volume of 571,098. The business has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $9.92. The company has a market capitalization of $691.54 million, a price-to-earnings ratio of -5.46 and a beta of 1.15. Zymeworks Inc. has a 12 month low of $6.01 and a 12 month high of $13.14.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The firm had revenue of $10.03 million for the quarter, compared to the consensus estimate of $17.98 million. Zymeworks had a negative return on equity of 28.37% and a negative net margin of 249.63%. Equities research analysts expect that Zymeworks Inc. will post -1.23 earnings per share for the current fiscal year.

Zymeworks Company Profile

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.