VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Zymeworks Inc. $ZYME

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Zymeworks Inc. (NYSE:ZYME) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 54,075 shares of the company’s stock, valued at approximately $679,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of Zymeworks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZYME. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Zymeworks by 184.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,879,945 shares of the company’s stock valued at $46,210,000 after acquiring an additional 2,514,834 shares during the last quarter. EcoR1 Capital LLC lifted its stake in shares of Zymeworks by 14.8% during the first quarter. EcoR1 Capital LLC now owns 17,259,548 shares of the company’s stock worth $205,561,000 after purchasing an additional 2,231,469 shares in the last quarter. Vestal Point Capital LP lifted its stake in shares of Zymeworks by 170.3% during the first quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock worth $5,955,000 after purchasing an additional 315,000 shares in the last quarter. Nuveen LLC acquired a new position in shares of Zymeworks during the first quarter worth about $2,368,000. Finally, Tejara Capital Ltd lifted its stake in shares of Zymeworks by 391.5% during the first quarter. Tejara Capital Ltd now owns 189,409 shares of the company’s stock worth $2,256,000 after purchasing an additional 150,872 shares in the last quarter. Institutional investors and hedge funds own 92.89% of the company’s stock.

Zymeworks Stock Performance

NYSE:ZYME opened at $17.74 on Friday. Zymeworks Inc. has a one year low of $9.03 and a one year high of $19.50. The business’s 50-day simple moving average is $16.18 and its 200 day simple moving average is $13.71. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -11.83 and a beta of 1.51.

Zymeworks (NYSE:ZYME) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.52) by $0.55. The business had revenue of $48.73 million for the quarter, compared to analysts’ expectations of $17.18 million. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%.The company’s revenue was up 153.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. On average, equities research analysts predict that Zymeworks Inc. will post -1.39 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company assumed coverage on Zymeworks in a research note on Friday. They set an “equal weight” rating and a $15.00 price objective on the stock. HC Wainwright set a $26.00 price objective on Zymeworks and gave the stock a “buy” rating in a research note on Tuesday, October 14th. B. Riley assumed coverage on Zymeworks in a research note on Friday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Citigroup boosted their price objective on Zymeworks from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Zymeworks has an average rating of “Buy” and a consensus target price of $24.88.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company’s lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors.