Zymeworks Inc. (NYSE:ZYME) is Redmile Group LLC’s 4th Largest Position

Redmile Group LLC lessened its stake in shares of Zymeworks Inc. (NYSE:ZYME) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,840,463 shares of the company’s stock after selling 261,448 shares during the period. Zymeworks makes up approximately 4.9% of Redmile Group LLC’s holdings, making the stock its 4th largest holding. Redmile Group LLC owned approximately 0.07% of Zymeworks worth $70,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZYME. Nuveen Asset Management LLC raised its holdings in shares of Zymeworks by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 207,023 shares of the company’s stock valued at $3,031,000 after acquiring an additional 886 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Zymeworks by 6.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock valued at $214,000 after purchasing an additional 940 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Zymeworks by 781.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,719 shares of the company’s stock valued at $25,000 after purchasing an additional 1,524 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Zymeworks by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 33,946 shares of the company’s stock worth $497,000 after purchasing an additional 2,053 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Zymeworks by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock valued at $201,000 after purchasing an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Analyst Upgrades and Downgrades

ZYME has been the subject of a number of recent research reports. HC Wainwright boosted their price objective on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, March 10th. Lifesci Capital assumed coverage on Zymeworks in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Citigroup upped their price objective on Zymeworks from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Zymeworks Stock Down 3.1%

Shares of ZYME opened at $11.25 on Thursday. The company has a 50 day moving average of $11.81 and a two-hundred day moving average of $13.42. Zymeworks Inc. has a twelve month low of $8.21 and a twelve month high of $17.70. The company has a market cap of $782.74 million, a price-to-earnings ratio of -7.50 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $20.65 million. During the same quarter last year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 170.3% on a year-over-year basis. On average, sell-side analysts expect that Zymeworks Inc. will post -1.39 EPS for the current year.

Insider Buying and Selling at Zymeworks

In related news, Director Ecor1 Capital, Llc acquired 468,356 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $12.48 per share, with a total value of $5,845,082.88. Following the completion of the acquisition, the director now directly owns 16,802,141 shares of the company’s stock, valued at $209,690,719.68. This represents a 2.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders acquired 1,350,347 shares of company stock worth $16,137,499. 1.92% of the stock is owned by insiders.

Zymeworks 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.