UBS Group AG Buys 227,013 Shares of Zymeworks Inc. $ZYME

UBS Group AG increased its stake in Zymeworks Inc. (NASDAQ:ZYME) by 437.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,854 shares of the company’s stock after acquiring an additional 227,013 shares during the period. UBS Group AG’s holdings in Zymeworks were worth $7,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Optiver Holding B.V. bought a new stake in shares of Zymeworks in the 3rd quarter valued at about $26,000. Quarry LP purchased a new position in Zymeworks during the 3rd quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Zymeworks by 25.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,637 shares of the company’s stock valued at $96,000 after purchasing an additional 731 shares during the period. Tower Research Capital LLC TRC increased its holdings in Zymeworks by 29.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,947 shares of the company’s stock valued at $62,000 after purchasing an additional 1,131 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Zymeworks during the 4th quarter valued at about $205,000. Institutional investors own 92.89% of the company’s stock.

Zymeworks Stock Performance

ZYME stock opened at $24.43 on Tuesday. Zymeworks Inc. has a fifty-two week low of $11.02 and a fifty-two week high of $29.75. The business’s 50 day moving average price is $25.61 and its two-hundred day moving average price is $24.36. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -17.83 and a beta of 1.20.

Zymeworks (NASDAQ:ZYME) last posted its earnings results on Tuesday, March 31st. The company reported ($0.59) earnings per share for the quarter. Zymeworks had a negative return on equity of 37.97% and a negative net margin of 126.92%.The firm had revenue of $2.41 million for the quarter. Sell-side analysts forecast that Zymeworks Inc. will post 1.64 earnings per share for the current year.

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

Analyst Ratings Changes

ZYME has been the topic of a number of research analyst reports. HC Wainwright boosted their price target on Zymeworks from $32.00 to $46.00 and gave the company a “buy” rating in a report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Zymeworks in a report on Monday, April 20th. Truist Financial upgraded Zymeworks to a “strong-buy” rating in a report on Monday, April 27th. Leerink Partners boosted their price target on Zymeworks from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company boosted their price target on Zymeworks from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zymeworks currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.