UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 238,026 Shares of Zymeworks Inc. $ZYME

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Zymeworks Inc. (NASDAQ:ZYME) by 74.5% in the second quarter, HoldingsChannel.com reports. The fund owned 81,359 shares of the company’s stock after selling 238,026 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Zymeworks were worth $2,127,000 at the end of the most recent quarter.

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

Zymeworks Price Performance

Shares of NASDAQ ZYME opened at $26.24 on Friday. Zymeworks Inc. has a 1 year low of $15.49 and a 1 year high of $31.34. The stock has a market cap of $1.86 billion, a P/E ratio of -12.99 and a beta of 1.19. The firm has a 50-day moving average of $25.72 and a 200 day moving average of $25.24.

Zymeworks (NASDAQ:ZYME) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%.The business had revenue of $3.23 million during the quarter, compared to analysts’ expectations of $4.54 million. During the same quarter last year, the company posted $0.03 EPS. Zymeworks’s revenue for the quarter was down 90.6% compared to the same quarter last year. Research analysts expect that Zymeworks Inc. will post 1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ZYME has been the subject of several research analyst reports. B. Riley Financial restated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Zymeworks in a report on Monday, August 10th. HC Wainwright upped their target price on Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Citigroup reissued a “market outperform” rating on shares of Zymeworks in a research report on Wednesday, August 26th. Citizens Jmp restated a “market outperform” rating and issued a $32.00 target price on shares of Zymeworks in a research note on Wednesday, August 26th. Finally, Wells Fargo & Company lifted their price target on Zymeworks from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Zymeworks Company Profile

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.