Pictet Asset Management Holding SA trimmed its stake in shares of Zymeworks Inc. (NASDAQ:ZYME – Free Report) by 87.4% in the first quarter, HoldingsChannel reports. The firm owned 9,256 shares of the company’s stock after selling 64,371 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Zymeworks were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of ZYME. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Zymeworks by 25.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock worth $96,000 after buying an additional 731 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Zymeworks by 1.6% during the 4th quarter. Russell Investments Group Ltd. now owns 58,350 shares of the company’s stock worth $1,536,000 after buying an additional 902 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in Zymeworks by 3.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 33,588 shares of the company’s stock valued at $884,000 after buying an additional 1,095 shares during the last quarter. Swiss National Bank grew its stake in Zymeworks by 1.5% in the 4th quarter. Swiss National Bank now owns 74,200 shares of the company’s stock valued at $1,954,000 after buying an additional 1,100 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares during the period. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ZYME has been the subject of several research reports. Citigroup restated a “buy” rating on shares of Zymeworks in a report on Tuesday, June 30th. Wells Fargo & Company increased their target price on Zymeworks from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of Zymeworks in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research note on Monday, April 20th. Finally, Truist Financial upped their price objective on Zymeworks from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.
Zymeworks Price Performance
Shares of Zymeworks stock opened at $25.88 on Monday. Zymeworks Inc. has a twelve month low of $11.51 and a twelve month high of $29.75. The company has a 50-day simple moving average of $24.73 and a two-hundred day simple moving average of $24.71. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -18.89 and a beta of 1.13.
Zymeworks (NASDAQ:ZYME – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. Zymeworks had a negative net margin of 126.92% and a negative return on equity of 37.97%. The business had revenue of $2.41 million during the quarter. On average, sell-side analysts anticipate that Zymeworks Inc. will post 1.1 earnings per share for the current fiscal year.
Zymeworks announced that its Board of Directors has initiated a share buyback program on Thursday, May 14th that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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.
Featured Articles
- Five stocks we like better than Zymeworks
- 3 Rare-Earth ETFs That Help Investors Balance Exposure and Risk
- Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs
- Delta Air Lines Lives Up to Its Claims: Shares Can Keep Climbing
- This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
Want to see what other hedge funds are holding ZYME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zymeworks Inc. (NASDAQ:ZYME – Free Report).
Receive News & Ratings for Zymeworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zymeworks and related companies with MarketBeat.com's FREE daily email newsletter.
