Empowered Funds LLC Has $4.21 Million Stock Position in Zymeworks Inc. (NYSE:ZYME)

Empowered Funds LLC boosted its holdings in Zymeworks Inc. (NYSE:ZYME) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,661 shares of the company’s stock after buying an additional 17,018 shares during the quarter. Empowered Funds LLC’s holdings in Zymeworks were worth $4,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZYME. DekaBank Deutsche Girozentrale acquired a new position in shares of Zymeworks during the third quarter worth $47,000. Quest Partners LLC grew its position in Zymeworks by 8,049.6% during the 2nd quarter. Quest Partners LLC now owns 9,209 shares of the company’s stock worth $78,000 after acquiring an additional 9,096 shares during the last quarter. nVerses Capital LLC bought a new stake in Zymeworks during the 3rd quarter worth $79,000. MQS Management LLC acquired a new position in Zymeworks in the 2nd quarter worth about $92,000. Finally, Arizona State Retirement System raised its position in Zymeworks by 11.1% in the second quarter. Arizona State Retirement System now owns 12,841 shares of the company’s stock valued at $109,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Down 5.4 %

Shares of NYSE ZYME opened at $15.39 on Monday. The firm has a market cap of $1.06 billion, a PE ratio of -10.26 and a beta of 1.16. The company’s fifty day simple moving average is $13.51 and its 200 day simple moving average is $11.01. Zymeworks Inc. has a 12-month low of $7.54 and a 12-month high of $17.70.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $17.90 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that Zymeworks Inc. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Zymeworks from $21.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup raised their price target on shares of Zymeworks from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company lowered shares of Zymeworks from an “overweight” rating to an “equal weight” rating and set a $12.00 price target on the stock. in a report on Friday, November 1st. Leerink Partners upgraded Zymeworks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $25.00 in a report on Thursday, November 7th. Finally, Leerink Partnrs raised Zymeworks from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.