Wedge Capital Management L L P NC Decreases Stock Position in Zymeworks Inc (NYSE:ZYME)

Wedge Capital Management L L P NC lessened its stake in Zymeworks Inc (NYSE:ZYME) by 69.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,425 shares of the company’s stock after selling 119,638 shares during the quarter. Wedge Capital Management L L P NC owned about 0.13% of Zymeworks worth $1,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZYME. FMR LLC purchased a new position in shares of Zymeworks during the 4th quarter valued at approximately $8,173,000. Taylor Wealth Management Partners purchased a new position in shares of Zymeworks during the 2nd quarter valued at approximately $1,763,000. Granite Investment Partners LLC boosted its stake in shares of Zymeworks by 87.8% during the 1st quarter. Granite Investment Partners LLC now owns 27,277 shares of the company’s stock valued at $441,000 after buying an additional 12,750 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Zymeworks during the 1st quarter valued at approximately $548,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Zymeworks by 44.7% during the 1st quarter. Acadian Asset Management LLC now owns 164,135 shares of the company’s stock valued at $2,654,000 after buying an additional 50,736 shares during the last quarter. Hedge funds and other institutional investors own 30.43% of the company’s stock.

ZYME stock opened at $26.39 on Friday. The company has a current ratio of 9.07, a quick ratio of 9.07 and a debt-to-equity ratio of 0.02. The firm has a market cap of $944.97 million, a P/E ratio of -20.94 and a beta of 1.47. Zymeworks Inc has a 12-month low of $10.72 and a 12-month high of $27.16. The stock’s 50 day simple moving average is $23.80 and its 200 day simple moving average is $18.81.

Zymeworks (NYSE:ZYME) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.83) by ($0.06). The firm had revenue of $7.88 million for the quarter, compared to analyst estimates of $7.25 million. Zymeworks had a negative net margin of 102.78% and a negative return on equity of 24.44%. On average, research analysts forecast that Zymeworks Inc will post -2.44 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. Barclays increased their target price on Zymeworks from $15.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Co increased their target price on Zymeworks from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Raymond James set a $36.00 target price on Zymeworks and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Deutsche Bank assumed coverage on Zymeworks in a research note on Thursday, July 18th. They set a “buy” rating and a $34.00 target price for the company. Finally, ValuEngine cut Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Zymeworks presently has an average rating of “Buy” and an average price target of $30.67.

Zymeworks Company Profile

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer in Canada. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I clinical trial for the treatment of breast and gastric cancer; ZW49, a bispecific antibody-drug conjugate that is in preclinical stage for treating breast and gastric cancers, and solid tumors.

Further Reading: Retained Earnings

Institutional Ownership by Quarter for Zymeworks (NYSE:ZYME)

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