Hillsdale Investment Management Inc. Has $8.65 Million Stock Holdings in Zymeworks Inc. $ZYME

Hillsdale Investment Management Inc. raised its position in Zymeworks Inc. (NASDAQ:ZYME) by 45.3% during the 1st quarter, HoldingsChannel reports. The fund owned 345,622 shares of the company’s stock after buying an additional 107,700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Zymeworks were worth $8,654,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Zymeworks during the 4th quarter worth approximately $37,000. Quarry LP acquired a new stake in shares of Zymeworks in the third quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Zymeworks by 25.2% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Zymeworks by 29.6% in the second 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Zymeworks during the fourth quarter worth $205,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ZYME shares. Wells Fargo & Company raised their target price on shares of Zymeworks from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of Zymeworks in a research report on Wednesday, June 3rd. Truist Financial increased their price objective on shares of Zymeworks from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Citigroup restated a “buy” rating on shares of Zymeworks in a report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zymeworks in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.33.

Zymeworks Stock Performance

NASDAQ ZYME opened at $24.94 on Tuesday. The firm has a 50-day moving average of $24.67 and a 200-day moving average of $24.70. The stock has a market cap of $1.82 billion, a PE ratio of -18.20 and a beta of 1.13. Zymeworks Inc. has a 52-week low of $11.51 and a 52-week high of $29.75.

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

Zymeworks declared that its board has approved a stock repurchase plan on Thursday, May 14th that permits the company to repurchase $125.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management 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.