Wellington Management Group LLP Sells 91,592 Shares of Zymeworks Inc. (NYSE:ZYME)

Wellington Management Group LLP cut its stake in shares of Zymeworks Inc. (NYSE:ZYME - Free Report) by 27.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,189 shares of the company's stock after selling 91,592 shares during the quarter. Wellington Management Group LLP owned approximately 0.35% of Zymeworks worth $3,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZYME. FMR LLC boosted its position in shares of Zymeworks by 84.2% in the third quarter. FMR LLC now owns 3,336 shares of the company's stock worth $42,000 after purchasing an additional 1,525 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Zymeworks in the third quarter valued at about $47,000. Quest Partners LLC grew its position in shares of Zymeworks by 8,049.6% during the second quarter. Quest Partners LLC now owns 9,209 shares of the company's stock worth $78,000 after purchasing an additional 9,096 shares in the last quarter. nVerses Capital LLC bought a new stake in Zymeworks during the 3rd quarter valued at approximately $79,000. Finally, MQS Management LLC purchased a new position in Zymeworks in the 2nd quarter worth approximately $92,000. 92.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZYME has been the subject of a number of research analyst reports. Leerink Partnrs raised shares of Zymeworks from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on Zymeworks from $21.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Citigroup upped their price objective on Zymeworks from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Wells Fargo & Company lowered shares of Zymeworks from an "overweight" rating to an "equal weight" rating and set a $12.00 target price for the company. in a report on Friday, November 1st. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $12.00 price target on shares of Zymeworks in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Zymeworks Stock Performance

Shares of Zymeworks stock opened at $13.37 on Wednesday. The stock has a market cap of $920.90 million, a price-to-earnings ratio of -8.91 and a beta of 1.12. The stock has a 50 day moving average price of $14.14 and a 200-day moving average price of $11.75. Zymeworks Inc. has a one year low of $7.97 and a one year high of $17.70.

Zymeworks (NYSE:ZYME - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS 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 during the quarter, compared to analyst estimates of $17.90 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. Zymeworks's quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts predict that Zymeworks Inc. will post -1.43 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.