UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $19.13 Million Holdings in Zymeworks Inc. (NYSE:ZYME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 19.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,524,084 shares of the company's stock after selling 378,317 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 2.21% of Zymeworks worth $19,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Perceptive Advisors LLC grew its holdings in shares of Zymeworks by 55.2% during the second quarter. Perceptive Advisors LLC now owns 1,667,711 shares of the company's stock valued at $14,192,000 after buying an additional 592,904 shares in the last quarter. Rubric Capital Management LP boosted its position in Zymeworks by 12.7% during the 2nd quarter. Rubric Capital Management LP now owns 3,917,331 shares of the company's stock worth $33,336,000 after acquiring an additional 441,947 shares during the period. Dimensional Fund Advisors LP grew 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 acquiring an additional 401,068 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Zymeworks during the 3rd quarter valued at about $4,156,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Zymeworks in the 2nd quarter valued at about $1,683,000. 92.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZYME has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Zymeworks from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Wells Fargo & Company cut 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. HC Wainwright reiterated a "neutral" rating and set a $12.00 price objective on shares of Zymeworks in a report on Friday, November 22nd. Leerink Partners raised Zymeworks from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $10.00 to $25.00 in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. 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. According to data from MarketBeat, Zymeworks has an average rating of "Moderate Buy" and an average price target of $19.00.

Zymeworks Price Performance

NYSE:ZYME traded up $0.05 during trading hours on Friday, reaching $14.25. The company's stock had a trading volume of 407,260 shares, compared to its average volume of 612,698. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70. The business's 50-day moving average is $14.07 and its 200-day moving average is $11.53. The company has a market cap of $981.54 million, a price-to-earnings ratio of -9.50 and a beta of 1.12.

Zymeworks (NYSE:ZYME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.01. Zymeworks had a negative return on equity of 23.00% and a negative net margin of 182.75%. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $17.90 million. During the same quarter in the prior year, the company posted ($0.41) EPS. The firm's revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts predict that Zymeworks Inc. will post -1.43 EPS 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.