Vident Investment Advisory LLC bought a new position in Zymeworks Inc (NYSE:ZYME) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 151,791 shares of the company’s stock, valued at approximately $2,243,000. Vident Investment Advisory LLC owned 0.48% of Zymeworks as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ZYME. Cubist Systematic Strategies LLC purchased a new position in Zymeworks during the 2nd quarter valued at $101,000. Raymond James & Associates purchased a new position in Zymeworks during the 2nd quarter valued at $578,000. Point72 Asset Management L.P. purchased a new position in Zymeworks during the 2nd quarter valued at $1,478,000. Laurion Capital Management LP purchased a new position in Zymeworks during the 2nd quarter valued at $1,612,000. Finally, Wedge Capital Management L L P NC purchased a new position in Zymeworks during the 2nd quarter valued at $2,162,000. 25.07% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on ZYME shares. Citigroup downgraded shares of Zymeworks from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 6th. Raymond James boosted their price objective on shares of Zymeworks from $22.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, June 5th. Canaccord Genuity set a $21.00 price objective on shares of Zymeworks and gave the company a “buy” rating in a research report on Wednesday, September 5th. ValuEngine raised shares of Zymeworks from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, Wells Fargo & Co boosted their price objective on shares of Zymeworks from $20.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, June 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $21.68.
Shares of ZYME stock opened at $14.66 on Friday. Zymeworks Inc has a 12 month low of $6.87 and a 12 month high of $29.00.
Zymeworks (NYSE:ZYME) last announced its earnings results on Wednesday, August 1st. The company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.36. Zymeworks had a negative net margin of 14.66% and a negative return on equity of 8.83%. The firm had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $22.00 million. research analysts expect that Zymeworks Inc will post -2.42 earnings per share for the current year.
Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidate is ZW25, a novel bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer.
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