Tejara Capital Ltd Sells 114,987 Shares of Zymeworks Inc. $ZYME

Tejara Capital Ltd reduced its holdings in shares of Zymeworks Inc. (NYSE:ZYME) by 57.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 85,163 shares of the company’s stock after selling 114,987 shares during the quarter. Tejara Capital Ltd’s holdings in Zymeworks were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. EcoR1 Capital LLC increased its stake in shares of Zymeworks by 33.1% in the 2nd quarter. EcoR1 Capital LLC now owns 22,970,388 shares of the company’s stock worth $288,278,000 after acquiring an additional 5,710,840 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Zymeworks by 144.6% in the 2nd quarter. Squarepoint Ops LLC now owns 155,599 shares of the company’s stock worth $1,953,000 after acquiring an additional 91,997 shares during the last quarter. Norges Bank bought a new position in shares of Zymeworks during the second quarter valued at $2,531,000. Assenagon Asset Management S.A. lifted its stake in Zymeworks by 169.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,326,774 shares of the company’s stock valued at $22,661,000 after acquiring an additional 833,994 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Zymeworks during the second quarter valued at approximately $179,000. 92.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on ZYME shares. Citizens Jmp initiated coverage on Zymeworks in a report on Wednesday, December 3rd. They issued a “market outperform” rating and a $32.00 target price on the stock. HC Wainwright lifted their price objective on shares of Zymeworks from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. JMP Securities set a $32.00 target price on Zymeworks in a report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price target on shares of Zymeworks from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Truist Financial began coverage on Zymeworks in a research note on Wednesday, December 17th. They set a “buy” rating and a $40.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Zymeworks presently has an average rating of “Buy” and a consensus target price of $32.82.

Insider Activity at Zymeworks

In related news, COO Mark Hollywood sold 6,120 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $22.67, for a total value of $138,740.40. Following the transaction, the chief operating officer owned 132,913 shares in the company, valued at approximately $3,013,137.71. This represents a 4.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Andrew Moore sold 9,560 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.67, for a total transaction of $216,725.20. Following the completion of the sale, the insider owned 48,497 shares in the company, valued at $1,099,426.99. The trade was a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 187,933 shares of company stock valued at $4,673,716 over the last three months. 33.51% of the stock is owned by corporate insiders.

Zymeworks Stock Up 0.7%

Shares of ZYME stock opened at $22.53 on Friday. Zymeworks Inc. has a 52-week low of $9.03 and a 52-week high of $28.49. The company’s 50 day moving average is $25.22 and its 200 day moving average is $19.39. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -15.02 and a beta of 1.30.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Zymeworks had a negative net margin of 182.75% and a negative return on equity of 23.00%. The firm had revenue of $27.61 million for the quarter, compared to the consensus estimate of $33.69 million. During the same quarter in the previous year, the firm earned ($0.39) EPS. The company’s quarterly revenue was up 72.6% compared to the same quarter last year. Analysts anticipate that Zymeworks Inc. will post -1.39 EPS for the current fiscal year.

Zymeworks Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, with a focus on the discovery, development and commercialization of multifunctional biotherapeutics. Founded in 2003, the company applies proprietary protein engineering platforms to create novel antibody and protein-based therapies targeting oncology and other serious diseases. Zymeworks is publicly traded on the New York Stock Exchange under the symbol ZYME.

The company’s core technology platforms include Azymetric®, which enables the design of bispecific antibodies capable of engaging two distinct targets simultaneously, and the EFECT™ platform for fine-tuning antibody-drug conjugate properties.