Assenagon Asset Management S.A. Takes Position in Zymeworks Inc. (NYSE:ZYME)

Assenagon Asset Management S.A. acquired a new position in Zymeworks Inc. (NYSE:ZYME - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 331,144 shares of the company's stock, valued at approximately $4,156,000. Assenagon Asset Management S.A. owned 0.47% of Zymeworks at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Zymeworks in the 1st quarter worth about $6,301,000. Perceptive Advisors LLC grew its stake in shares of Zymeworks by 55.2% in the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock worth $14,192,000 after purchasing an additional 592,904 shares in the last quarter. Rubric Capital Management LP increased its stake in 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 buying an additional 441,947 shares during the period. Dimensional Fund Advisors LP boosted its stake in Zymeworks by 127.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 715,632 shares of the company's stock valued at $6,090,000 after purchasing an additional 401,068 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Zymeworks by 94.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 716,482 shares of the company's stock valued at $7,537,000 after purchasing an additional 348,441 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright restated a "neutral" rating and issued a $12.00 price target on shares of Zymeworks in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a report on Monday.

Zymeworks Stock Performance

Shares of ZYME traded up $0.17 during trading hours on Wednesday, hitting $13.87. 459,215 shares of the company were exchanged, compared to its average volume of 621,394. The firm's 50 day moving average is $12.44 and its 200-day moving average is $10.38. Zymeworks Inc. has a 52 week low of $6.79 and a 52 week high of $14.05. The company has a market cap of $980.68 million, a PE ratio of -7.75 and a beta of 1.20.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.01. Zymeworks had a negative net margin of 179.42% and a negative return on equity of 21.97%. The firm had revenue of $19.24 million for the quarter, compared to the consensus estimate of $23.16 million. During the same quarter last year, the firm posted ($0.76) EPS. As a group, equities analysts forecast that Zymeworks Inc. will post -0.85 earnings per share for the current fiscal year.

Zymeworks 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.