Polar Asset Management Partners Inc. Buys Shares of 36,000 Zymeworks Inc. (NYSE:ZYME)

Polar Asset Management Partners Inc. purchased a new position in shares of Zymeworks Inc. (NYSE:ZYME) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,000 shares of the company’s stock, valued at approximately $527,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZYME. Barclays PLC lifted its holdings in Zymeworks by 476.3% during the third quarter. Barclays PLC now owns 154,384 shares of the company’s stock worth $1,937,000 after acquiring an additional 127,595 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Zymeworks by 93.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 642,251 shares of the company’s stock worth $9,403,000 after purchasing an additional 311,107 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Zymeworks by 6.1% during the 4th quarter. Ritholtz Wealth Management now owns 74,466 shares of the company’s stock valued at $1,090,000 after purchasing an additional 4,297 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Zymeworks by 30.4% in the 4th quarter. SG Americas Securities LLC now owns 26,782 shares of the company’s stock valued at $392,000 after purchasing an additional 6,239 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in Zymeworks by 6.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,605 shares of the company’s stock worth $214,000 after purchasing an additional 940 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the topic of several research analyst reports. HC Wainwright raised their target price on shares of Zymeworks from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, March 10th. Citigroup boosted their target price on Zymeworks from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, Lifesci Capital started coverage on Zymeworks in a research report on Tuesday, March 11th. They set an “outperform” rating and a $30.00 price target for the company. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc bought 320,690 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $11.49 per share, with a total value of $3,684,728.10. Following the completion of the transaction, the director now owns 16,040,851 shares of the company’s stock, valued at $184,309,377.99. This trade represents a 2.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders purchased 1,350,347 shares of company stock valued at $16,137,499. Company insiders own 1.92% of the company’s stock.

Zymeworks Stock Performance

Shares of NYSE ZYME opened at $11.71 on Friday. Zymeworks Inc. has a 52 week low of $8.21 and a 52 week high of $17.70. The stock has a 50 day moving average price of $11.82 and a 200 day moving average price of $13.39. The stock has a market capitalization of $814.75 million, a PE ratio of -7.81 and a beta of 1.24.

Zymeworks (NYSE:ZYME) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $20.65 million. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The business’s revenue was up 170.3% compared to the same quarter last year. As a group, research analysts forecast that Zymeworks Inc. will post -1.39 EPS for the current year.

About Zymeworks

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.