Zymeworks Inc. (NYSE:ZYME) Shares Bought by State Street Corp

State Street Corp raised its position in Zymeworks Inc. (NYSE:ZYME - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,171,777 shares of the company's stock after acquiring an additional 67,401 shares during the quarter. State Street Corp owned approximately 1.70% of Zymeworks worth $14,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Zymeworks by 2.1% during the third quarter. Stifel Financial Corp now owns 73,654 shares of the company's stock worth $924,000 after purchasing an additional 1,540 shares during the last quarter. Vestal Point Capital LP lifted its stake in Zymeworks by 39.8% in the third quarter. Vestal Point Capital LP now owns 615,000 shares of the company's stock valued at $7,718,000 after buying an additional 175,000 shares during the last quarter. FMR LLC boosted its holdings in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company's stock valued at $42,000 after acquiring an additional 1,525 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Zymeworks by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,798 shares of the company's stock worth $1,667,000 after acquiring an additional 650 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Zymeworks in the 3rd quarter valued at $266,000. Institutional investors and hedge funds own 92.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Zymeworks from $21.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Leerink Partnrs raised Zymeworks from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. HC Wainwright restated a "neutral" rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Leerink Partners raised shares of Zymeworks from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $10.00 to $25.00 in a research note on Thursday, November 7th. Finally, Citigroup boosted their price target on shares of Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.17.

Zymeworks Trading Down 1.0 %

Shares of NYSE:ZYME traded down $0.14 on Wednesday, reaching $14.14. 208,994 shares of the company were exchanged, compared to its average volume of 611,729. The firm has a market cap of $973.93 million, a price-to-earnings ratio of -9.43 and a beta of 1.12. Zymeworks Inc. has a 1-year low of $7.97 and a 1-year high of $17.70. The company has a 50-day moving average of $14.23 and a 200-day moving average of $11.98.

Zymeworks (NYSE:ZYME - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $16.00 million during the quarter, compared to analysts' expectations of $17.90 million. During the same quarter last year, the business posted ($0.41) earnings per share. The business's revenue for the quarter was down 3.1% on a year-over-year basis. As a group, analysts forecast that Zymeworks Inc. will post -1.43 earnings per share for the current 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.