Susquehanna Fundamental Investments LLC Takes $475,000 Position in Zymeworks Inc. $ZYME

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Zymeworks Inc. (NASDAQ:ZYME) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,185 shares of the company’s stock, valued at approximately $475,000.

Several other institutional investors have also recently added to or reduced their stakes in ZYME. AQR Capital Management LLC boosted its stake in shares of Zymeworks by 86.0% during the 1st quarter. AQR Capital Management LLC now owns 48,485 shares of the company’s stock worth $577,000 after purchasing an additional 22,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Zymeworks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,385 shares of the company’s stock worth $386,000 after acquiring an additional 1,427 shares during the last quarter. Jane Street Group LLC grew its stake in Zymeworks by 487.0% in the 1st quarter. Jane Street Group LLC now owns 135,763 shares of the company’s stock worth $1,617,000 after acquiring an additional 112,636 shares during the period. Creative Planning grew its stake in Zymeworks by 114.8% in the 2nd quarter. Creative Planning now owns 25,389 shares of the company’s stock worth $319,000 after acquiring an additional 13,567 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Zymeworks by 1,050.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 441,690 shares of the company’s stock valued at $5,543,000 after acquiring an additional 403,281 shares during the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Trading Up 4.7%

ZYME stock opened at $31.05 on Thursday. The firm has a 50 day simple moving average of $25.32 and a 200-day simple moving average of $25.00. The company has a market capitalization of $2.20 billion, a P/E ratio of -15.37 and a beta of 1.19. Zymeworks Inc. has a twelve month low of $13.60 and a twelve month high of $31.17.

Zymeworks (NASDAQ:ZYME) last issued its earnings results on Friday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The company had revenue of $3.23 million during the quarter, compared to analyst estimates of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. The business’s revenue for the quarter was down 90.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. On average, research analysts predict that Zymeworks Inc. will post 1.37 EPS for the current year.

Zymeworks declared that its Board of Directors has approved a share repurchase program on Thursday, May 14th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the company to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. B. Riley Financial reiterated a “buy” rating and issued a $44.00 target price (up from $40.00) on shares of Zymeworks in a research note on Monday, August 10th. Citizens Jmp restated a “market outperform” rating and issued a $32.00 price target on shares of Zymeworks in a report on Wednesday, August 26th. Citigroup reiterated a “market outperform” rating on shares of Zymeworks in a report on Wednesday, August 26th. HC Wainwright boosted their target price on shares of Zymeworks from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research note on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.