Jupiter Asset Management Ltd. Trims Stock Position in Zymeworks Inc. $ZYME

Jupiter Asset Management Ltd. trimmed its stake in Zymeworks Inc. (NASDAQ:ZYME) by 64.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,506 shares of the company’s stock after selling 225,154 shares during the period. Jupiter Asset Management Ltd. owned 0.17% of Zymeworks worth $3,305,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC raised its stake in Zymeworks by 19.7% in the fourth quarter. Intech Investment Management LLC now owns 20,330 shares of the company’s stock worth $535,000 after buying an additional 3,348 shares in the last quarter. PSP Research LLC purchased a new position in shares of Zymeworks during the 4th quarter worth approximately $535,000. ProShare Advisors LLC grew its holdings in shares of Zymeworks by 10.6% during the 4th quarter. ProShare Advisors LLC now owns 12,387 shares of the company’s stock worth $326,000 after acquiring an additional 1,186 shares during the period. Abacus Wealth Partners LLC bought a new position in shares of Zymeworks in the 4th quarter worth approximately $269,000. Finally, Dana Investment Advisors Inc. bought a new position in shares of Zymeworks in the 4th quarter worth approximately $1,272,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Price Performance

Shares of Zymeworks stock opened at $25.13 on Friday. The company has a 50-day moving average of $25.82 and a 200 day moving average of $24.74. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -18.34 and a beta of 1.20. Zymeworks Inc. has a 1 year low of $11.02 and a 1 year high of $29.75.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%.The business had revenue of $2.41 million during the quarter. On average, equities analysts anticipate that Zymeworks Inc. will post 1.64 EPS for the current year.

Zymeworks declared that its board has initiated a stock repurchase program on Thursday, May 14th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the company to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZYME. HC Wainwright increased their target price on Zymeworks from $32.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Leerink Partners raised their price objective on Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus boosted their target price on shares of Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Truist Financial upgraded shares of Zymeworks to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zymeworks in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Zymeworks 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.