Jacobs Levy Equity Management Inc. Sells 129,088 Shares of Zymeworks Inc. (NYSE:ZYME)

Jacobs Levy Equity Management Inc. reduced its holdings in Zymeworks Inc. (NYSE:ZYME - Free Report) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,640 shares of the company's stock after selling 129,088 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.76% of Zymeworks worth $6,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in Zymeworks during the 2nd quarter worth $1,683,000. Rubric Capital Management LP raised its position in shares of Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company's stock valued at $33,336,000 after acquiring an additional 441,947 shares during the last quarter. Vestal Point Capital LP raised its position in shares of Zymeworks by 39.8% during the 3rd quarter. Vestal Point Capital LP now owns 615,000 shares of the company's stock valued at $7,718,000 after acquiring an additional 175,000 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Zymeworks by 401.9% during the 2nd quarter. Squarepoint Ops LLC now owns 73,324 shares of the company's stock valued at $624,000 after acquiring an additional 58,716 shares during the last quarter. Finally, Perceptive Advisors LLC raised its position in shares of Zymeworks by 55.2% during the 2nd quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock valued at $14,192,000 after acquiring an additional 592,904 shares during the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ZYME. Leerink Partners upgraded shares of Zymeworks from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Citigroup increased their target price on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Stifel Nicolaus increased their target price on Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, October 28th. HC Wainwright restated a "neutral" rating and set a $12.00 price objective on shares of Zymeworks in a research note on Friday, November 22nd. Finally, Leerink Partnrs upgraded shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Zymeworks Stock Up 0.4 %

Shares of NYSE:ZYME traded up $0.05 during trading on Friday, hitting $14.25. 407,260 shares of the company were exchanged, compared to its average volume of 612,698. The business's 50 day moving average is $14.03 and its 200-day moving average is $11.49. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm posted ($0.41) earnings per share. Zymeworks's revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts predict that Zymeworks Inc. will post -1.43 EPS for the current fiscal year.

About Zymeworks

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.