Zymeworks Inc. $ZYME Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in Zymeworks Inc. (NASDAQ:ZYME) by 50.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,935 shares of the company’s stock after selling 28,040 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Zymeworks were worth $736,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC grew its stake in Zymeworks by 86.0% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Zymeworks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock valued at $386,000 after purchasing an additional 1,427 shares in the last quarter. Jane Street Group LLC grew its stake in Zymeworks by 487.0% during the 1st 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 stake in Zymeworks by 114.8% during the 2nd 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. grew its stake in Zymeworks by 1,050.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 441,690 shares of the company’s stock valued at $5,543,000 after purchasing an additional 403,281 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Performance

NASDAQ:ZYME opened at $23.93 on Monday. The company’s 50-day moving average price is $25.62 and its 200-day moving average price is $24.32. Zymeworks Inc. has a twelve month low of $11.02 and a twelve month high of $29.75. The company has a market cap of $1.75 billion, a P/E ratio of -17.47 and a beta of 1.20.

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

Zymeworks declared that its board has approved a stock repurchase program on Thursday, May 14th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the company to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

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

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.