Perceptive Advisors LLC Acquires 1,171,187 Shares of Zymeworks Inc. $ZYME

Perceptive Advisors LLC boosted its holdings in Zymeworks Inc. (NASDAQ:ZYME) by 56.0% in the 4th quarter, HoldingsChannel reports. The firm owned 3,261,850 shares of the company’s stock after purchasing an additional 1,171,187 shares during the quarter. Zymeworks makes up approximately 1.5% of Perceptive Advisors LLC’s portfolio, making the stock its 20th largest holding. Perceptive Advisors LLC’s holdings in Zymeworks were worth $85,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in Zymeworks in the 3rd quarter worth approximately $26,000. Quarry LP bought a new position in Zymeworks in the 3rd quarter worth approximately $50,000. Caitong International Asset Management Co. Ltd bought a new position in Zymeworks in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its stake in Zymeworks by 29.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock worth $62,000 after purchasing an additional 1,131 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Zymeworks by 25.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock worth $96,000 after purchasing an additional 731 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ZYME. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a research note on Monday, April 20th. Wells Fargo & Company upped their price target on Zymeworks from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Leerink Partners upped their price target on Zymeworks from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Truist Financial set a $28.00 target price on Zymeworks and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Stifel Nicolaus increased their target price on Zymeworks from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Zymeworks Stock Performance

NASDAQ ZYME opened at $23.14 on Thursday. The company has a market capitalization of $1.69 billion, a P/E ratio of -16.89 and a beta of 1.15. The stock has a 50 day moving average price of $25.54 and a 200-day moving average price of $24.84. Zymeworks Inc. has a one year low of $11.51 and a one year high of $29.75.

Zymeworks (NASDAQ:ZYME) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share (EPS) for the quarter. The company had revenue of $2.41 million during the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%. As a group, equities analysts predict that Zymeworks Inc. will post 1.1 EPS for the current fiscal year.

Zymeworks announced that its Board of Directors has initiated a share repurchase program on Thursday, May 14th that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Zymeworks Company Profile

Zymeworks Inc is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics. The company specializes in engineered antibody and protein therapeutics designed to address a range of unmet medical needs in oncology and other serious diseases. Through its proprietary platforms, Zymeworks aims to create novel bispecific and multispecific molecules that can simultaneously engage multiple targets and recruit immune effector functions to enhance potency and specificity.

At the core of Zymeworks’ innovation is its Azymetric™ bispecific antibody platform, which enables the design of asymmetrical bispecific antibodies with controlled assembly and high stability.