UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 238,026 Shares of Zymeworks Inc. $ZYME

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Zymeworks Inc. (NASDAQ:ZYME) by 74.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,359 shares of the company’s stock after selling 238,026 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Zymeworks worth $2,127,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Zymeworks in the fourth quarter worth approximately $37,000. Quarry LP purchased a new position in shares of Zymeworks during the third quarter worth approximately $50,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 acquiring an additional 1,131 shares during the last quarter. State of Wyoming bought a new stake in shares of Zymeworks in the 2nd quarter worth approximately $73,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Zymeworks by 157.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,307 shares of the company’s stock valued at $129,000 after purchasing an additional 6,307 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. B. Riley Financial reissued a “buy” rating and issued a $44.00 price target (up from $40.00) on shares of Zymeworks in a research note on Monday, August 10th. Citigroup reaffirmed a “market outperform” rating on shares of Zymeworks in a research note on Wednesday, August 26th. Wells Fargo & Company lifted their price objective on Zymeworks from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. HC Wainwright lifted their price objective on Zymeworks from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Finally, Truist Financial boosted their target price on Zymeworks from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Zymeworks Stock Down 0.7%

Shares of ZYME opened at $26.24 on Friday. The stock has a market capitalization of $1.86 billion, a P/E ratio of -12.99 and a beta of 1.19. The firm has a fifty day simple moving average of $25.72 and a two-hundred day simple moving average of $25.24. Zymeworks Inc. has a twelve month low of $15.49 and a twelve month high of $31.34.

Zymeworks (NASDAQ:ZYME) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.06). The firm had revenue of $3.23 million during the quarter, compared to analysts’ expectations of $4.54 million. Zymeworks had a negative net margin of 405.31% and a negative return on equity of 72.30%. Zymeworks’s revenue was down 90.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Sell-side analysts expect that Zymeworks Inc. will post 1.38 EPS for the current fiscal year.

Zymeworks 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.