Granahan Investment Management LLC Acquires 26,365 Shares of Zymeworks Inc. $ZYME

Granahan Investment Management LLC boosted its holdings in shares of Zymeworks Inc. (NASDAQ:ZYME) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,773 shares of the company’s stock after acquiring an additional 26,365 shares during the quarter. Granahan Investment Management LLC owned 0.34% of Zymeworks worth $6,279,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ZYME. Rubric Capital Management LP increased its stake in Zymeworks by 22.1% in the fourth quarter. Rubric Capital Management LP now owns 5,750,000 shares of the company’s stock worth $151,398,000 after purchasing an additional 1,039,449 shares during the period. Perceptive Advisors LLC grew its holdings in shares of Zymeworks by 56.0% in the fourth quarter. Perceptive Advisors LLC now owns 3,261,850 shares of the company’s stock worth $85,885,000 after purchasing an additional 1,171,187 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Zymeworks by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock worth $61,315,000 after purchasing an additional 174,293 shares during the last quarter. Vestal Point Capital LP increased its stake 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 period. Finally, Siren L.L.C. purchased a new position in Zymeworks in the 4th quarter worth about $44,238,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

Shares of NASDAQ ZYME opened at $22.86 on Friday. Zymeworks Inc. has a 1-year low of $11.51 and a 1-year high of $29.75. The business has a fifty day moving average price of $24.47 and a 200 day moving average price of $24.54. The stock has a market capitalization of $1.67 billion, a P/E ratio of -16.69 and a beta of 1.13.

Zymeworks (NASDAQ:ZYME) last announced its earnings results on Tuesday, March 31st. The company reported ($0.59) 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. As a group, equities research analysts anticipate that Zymeworks Inc. will post 1.1 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $46.00 price objective on shares of Zymeworks in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a report on Friday, July 17th. Truist Financial raised their price objective on Zymeworks from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company lifted their target price on Zymeworks from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Finally, Citigroup restated a “buy” rating on shares of Zymeworks in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.33.

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.