Calamos Advisors LLC Acquires New Stake in Zymeworks Inc. $ZYME

Calamos Advisors LLC bought a new position in shares of Zymeworks Inc. (NASDAQ:ZYME) during the third quarter, HoldingsChannel reports. The fund bought 46,516 shares of the company’s stock, valued at approximately $1,232,000.

A number of other institutional investors have also modified their holdings of ZYME. Nykredit A S acquired a new position in shares of Zymeworks in the 2nd quarter valued at $25,000. Sterling Capital Management LLC raised its position in Zymeworks by 813.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,507 shares of the company’s stock valued at $40,000 after purchasing an additional 1,342 shares during the last quarter. State of Wyoming acquired a new stake in Zymeworks during the 2nd quarter worth $73,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Zymeworks during the 3rd quarter worth $96,000. Finally, State of Alaska Department of Revenue acquired a new stake in Zymeworks during the 3rd quarter worth $102,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zymeworks

In other Zymeworks news, EVP Adam Schayowitz sold 13,832 shares of the business’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $25.85, for a total value of $357,557.20. Following the transaction, the executive vice president directly owned 23,205 shares of the company’s stock, valued at approximately $599,849.25. The trade was a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 37.73% of the company’s stock.

Analysts Set New Price Targets

ZYME has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Zymeworks from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. TD Cowen began coverage on shares of Zymeworks in a report on Tuesday, September 29th. They issued a “buy” rating and a $34.00 target price for the company. Citigroup reiterated a “market outperform” rating on shares of Zymeworks in a research note on Monday, October 26th. Stifel Nicolaus set a $46.00 target price on shares of Zymeworks in a research note on Friday, August 7th. Finally, Wolfe Research started coverage on Zymeworks in a report on Thursday, September 17th. They set an “outperform” rating on the stock. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.67.

Zymeworks Trading Up 4.0%

NASDAQ:ZYME opened at $30.81 on Tuesday. The firm has a market cap of $2.17 billion, a P/E ratio of -15.25 and a beta of 1.32. The stock’s 50 day simple moving average is $27.46 and its 200-day simple moving average is $25.38. Zymeworks Inc. has a 12-month low of $16.57 and a 12-month high of $31.49.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings results on Monday, November 9th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.27 by $0.01. Zymeworks had a negative return on equity of 72.30% and a negative net margin of 405.31%. The business had revenue of $512.92 million during the quarter, compared to analysts’ expectations of $227.40 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. The company’s quarterly revenue was up 828.7% compared to the same quarter last year. Research analysts forecast that Zymeworks Inc. will post 1.32 EPS for the current fiscal year.

Zymeworks Profile

Zymeworks Inc is a biotechnology company headquartered in Vancouver, Canada, that develops engineered medicines, with a focus on treatments for cancer and other serious diseases. Its antibody-engineering technologies are designed to create therapies that can engage multiple biological targets or modify immune responses.

The company’s lead program is zanidatamab, a HER2-targeted bispecific antibody. In the United States, it is marketed by partner Jazz Pharmaceuticals as Ziihera for certain adults with previously treated, unresectable or metastatic biliary tract cancer.