Zymeworks Inc. $ZYME Shares Purchased by Perceptive Advisors LLC

Perceptive Advisors LLC boosted its position in shares of Zymeworks Inc. (NASDAQ:ZYME) by 7.6% during the first quarter, Holdings Channel reports. The firm owned 3,510,078 shares of the company’s stock after buying an additional 248,228 shares during the quarter. Zymeworks comprises approximately 1.7% of Perceptive Advisors LLC’s holdings, making the stock its 18th biggest position. Perceptive Advisors LLC’s holdings in Zymeworks were worth $87,892,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ZYME. Rubric Capital Management LP raised its stake in shares of Zymeworks by 21.7% during the 1st quarter. Rubric Capital Management LP now owns 7,000,000 shares of the company’s stock worth $175,280,000 after buying an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Zymeworks by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 2,328,727 shares of the company’s stock worth $61,315,000 after buying an additional 174,293 shares in the last quarter. Vestal Point Capital LP grew 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 valued at $30,146,000 after acquiring an additional 615,000 shares during the last quarter. Siren L.L.C. acquired a new stake in Zymeworks in the 4th quarter valued at about $44,238,000. Finally, Deutsche Bank AG increased its holdings in Zymeworks by 3.3% during the 4th quarter. Deutsche Bank AG now owns 1,595,833 shares of the company’s stock valued at $42,018,000 after acquiring an additional 50,935 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Analyst Ratings Changes

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

Zymeworks Trading Down 3.4%

Zymeworks stock opened at $21.94 on Friday. The stock has a 50-day moving average price of $24.23 and a 200 day moving average price of $24.48. Zymeworks Inc. has a 52 week low of $11.51 and a 52 week high of $29.75. The stock has a market cap of $1.60 billion, a PE ratio of -16.01 and a beta of 1.13.

Zymeworks (NASDAQ:ZYME) last released its earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. Zymeworks had a negative net margin of 126.92% and a negative return on equity of 37.97%. The firm had revenue of $2.41 million during the quarter. On average, equities analysts predict that Zymeworks Inc. will post 1.36 EPS for the current year.

Zymeworks declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 14th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

About Zymeworks

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.