Squarepoint Ops LLC Increases Stock Position in Zymeworks Inc. $ZYME

Squarepoint Ops LLC boosted its position in shares of Zymeworks Inc. (NYSE:ZYME) by 144.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,599 shares of the company’s stock after purchasing an additional 91,997 shares during the period. Squarepoint Ops LLC’s holdings in Zymeworks were worth $1,953,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of Zymeworks by 29.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after acquiring an additional 1,131 shares in the last quarter. CWM LLC lifted its stake in shares of Zymeworks by 272.8% in the second quarter. CWM LLC now owns 8,570 shares of the company’s stock worth $108,000 after acquiring an additional 6,271 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Zymeworks by 83.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 10,030 shares of the company’s stock valued at $119,000 after purchasing an additional 4,559 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Zymeworks by 157.7% during 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. Finally, Brevan Howard Capital Management LP purchased a new stake in Zymeworks during the 2nd quarter worth approximately $133,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

Wall Street Analyst Weigh In

ZYME has been the subject of several research analyst reports. Truist Financial started coverage on Zymeworks in a research note on Wednesday. They set a “buy” rating and a $40.00 target price for the company. Wells Fargo & Company upgraded shares of Zymeworks from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $33.00 in a research note on Friday, December 12th. Leerink Partners set a $37.00 target price on shares of Zymeworks in a research report on Monday, November 17th. B. Riley restated a “buy” rating and issued a $40.00 target price (up previously from $30.00) on shares of Zymeworks in a research note on Friday, November 21st. Finally, JMP Securities set a $32.00 price target on Zymeworks in a research note on Wednesday, December 3rd. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $32.82.

Zymeworks Stock Performance

Zymeworks stock opened at $26.40 on Friday. Zymeworks Inc. has a 1 year low of $9.03 and a 1 year high of $28.49. The firm’s 50-day moving average is $21.81 and its 200-day moving average is $16.77. The company has a market cap of $1.98 billion, a P/E ratio of -17.60 and a beta of 1.27.

Zymeworks (NYSE:ZYME) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $33.69 million. During the same quarter in the prior year, the business earned ($0.39) earnings per share. Zymeworks’s quarterly revenue was up 72.6% on a year-over-year basis. As a group, sell-side analysts predict that Zymeworks Inc. will post -1.39 earnings per share for the current year.

Zymeworks Company 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.